Turkey-based steel makers Kardemir, İcdas and Bastug Metalurji have revised their domestic rebar prices upwards today, November 21, amid the sharp depreciations of the Turkish lira against the US dollar.
Buyers in the local Turkish rebar market had started to maintain a cautious stance about rebar purchases in the middle of last week due to the changes seen in the Turkish lira-US dollar exchange rate, which has been replaced by a wait-and-see stance as of today. Additionally, although Turkish steel producers have increased their domestic rebar prices on Turkish lira basis, prices on US dollar basis have fallen due to the fluctuation of the exchange rate.
Meanwhile, traders' domestic rebar prices have mostly increased by TRY 20/mt compared to price levels recorded on November 17 with the influence of the rises recorded in Turkish mills' quotations. Also, traders' prices on US dollar basis have fallen by $2-8/mt since November 17 due to the depreciation of the Turkish lira.
As of today, November 21, traders' rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
17.11.2016 |
17.11.2016 |
||||||
Marmara |
8 mm |
1,508 |
446 |
↑ |
16 |
↓ |
3 |
Marmara |
12 mm |
1,492 |
441 |
↑ |
17 |
↓ |
3 |
Iskenderun |
8 mm |
1,458 |
431 |
0 |
↓ |
8 |
|
Iskenderun |
10 mm |
1,449 |
429 |
0 |
↓ |
7 |
|
Iskenderun |
12 mm |
1,441 |
426 |
0 |
↓ |
8 |
|
Izmir |
8 mm |
1,483 |
439 |
↑ |
17 |
↓ |
3 |
Izmir |
10 mm |
1,475 |
436 |
↑ |
17 |
↓ |
3 |
Izmir |
12 mm |
1,466 |
434 |
↑ |
17 |
↓ |
2 |
Karabuk |
8 mm |
1,483 |
439 |
↑ |
17 |
↓ |
3 |
Karabuk |
12 mm |
1,466 |
434 |
↑ |
17 |
↓ |
2 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.38