Local Turkish rebar market maintains its upward trend

Monday, 14 August 2017 17:20:57 (GMT+3)   |   Istanbul
       

With the influence of the ongoing rises seen in import scrap prices in Turkey, domestic rebar prices in the country have increased by TRY 30-80/mt since August 10. Today, local steel producer Icdas raised its domestic rebar list prices by TRY 50-51/mt + VAT as compared to its previous price list issued on August 9. Market sources report that price increases in the local Turkish rebar market are exerting a negative impact on demand and with every upward revision of quotations demand weakens further. Additionally, Turkish traders’ rebar inventory levels are heard to be on the high side, while liquidity problems in the local Turkish rebar market have increased.

As of today, August 14, traders’ rebar offers in the Turkish domestic market are as follows:

Region

Dimension

Price (TRY/mt)

Price ($/mt)

Price changes (TRY/mt)

Price changes ($/mt)

10.08.2017

10.08.2017

Marmara

8 mm

1,975

559

26

8

Marmara

12 mm

1,958

555

26

9

Iskenderun

8 mm

2,008

569

67

21

Iskenderun

10 mm

2,000

567

68

21

Iskenderun

12 mm

1,992

564

68

21

Izmir

8 mm

1,949

552

68

21

Izmir

10 mm

1,941

550

68

21

Izmir

12 mm

1,932

547

68

20

Karabuk

8 mm

1,983

562

51

16

Karabuk

12 mm

1,966

557

51

16

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

$1 = TRY 3.53


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