Local Turkish rebar market maintains its downtrend

It is observed that the very weak demand in the local Turkish rebar market has been putting prices under pressure, while the appreciation of the Turkish lira against the US dollar is seen as another factor in domestic rebar quotations’ gradual decline. As a result of these circumstances, domestic rebar prices in Turkey have moved down by TRY 51-102 + VAT as compared to price levels in SteelOrbis’ report published on May 28.

Turkish steel producer Kardemir has opened its domestic rebar sales as per its new price list dated today, May 31. Accordingly, Kardemir has opened its domestic sales for rebar at the level of TRY 2,513mt ($562/mt) ex-works, excluding VAT, for 1,000 mt and above orders, with 25 percent on cash payment basis, with 25 percent each on 30-day, 60-day and 90-day deferred payment basis, and with no interest accruing due to payment deferral. Compared to the price list issued on May 25, the producer's rebar prices have decreased by TRY 115/mt and prices on US dollar basis have moved up by $14/mt due to the fluctuation of the exchange rate. SteelOrbis has been informed that Turkish producer Icdas’ 12-32 mm rebar prices in Turkey's Marmara region were at TRY 2,525/mt ($562/mt) + VAT ex-works yesterday, while its rebar prices in Biga, Canakkale in northwestern Turkey were at TRY 2,500/mt ($557/mt) + VAT ex-works. The mill’s list prices moved down by TRY 76-77/mt + VAT as compared to its previous price list issued on May 28. 

As of today, May 31, traders’ rebar offers in the Turkish domestic market are as follows:

All prices are ex-warehouse and on actual weight basis and exclude VAT.

$1 = TRY 4.49