The depreciation of the Turkish lira against the US dollar recorded towards the end of last week has pushed up domestic rebar prices in Turkey. Due to the accelerated depreciation of the Turkish lira against the US dollar , Turkish steel producer Kardemir closed its domestic rebar sales on July 27 after selling about 25,000 mt in total. The mill opened its rebar sales on July 26 at the level of TRY 2,670/mt ($555/mt) ex-works, excluding VAT. On the other hand, it is observed that buyers in the local Turkish rebar market are now cautious about concluding purchases amid the current fluctuating trend of the exchange rate. Meanwhile, domestic rebar prices in Turkey have increased by TRY 17-42/mt since SteelOrbis’ report published on July 26 against the backdrop of the movements of the exchange rate.
As of today, July 30, traders’ rebar offers in the Turkish domestic market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
26.07.2018 |
26.07.2018 |
||||||
|
Marmara |
8 mm |
2,729 |
558 |
↑ |
17 |
↓ |
6 |
|
Marmara |
12 mm |
2,712 |
555 |
↑ |
17 |
↓ |
6 |
|
Iskenderun |
8 mm |
2,729 |
558 |
↑ |
42 |
|
0 |
|
Iskenderun |
10 mm |
2,716 |
555 |
↑ |
42 |
|
0 |
|
Iskenderun |
12 mm |
2,703 |
553 |
↑ |
42 |
|
0 |
|
Izmir |
8 mm |
2,695 |
551 |
↑ |
25 |
↓ |
4 |
|
Izmir |
10 mm |
2,686 |
549 |
↑ |
25 |
↓ |
4 |
|
Izmir |
12 mm |
2,678 |
548 |
↑ |
25 |
↓ |
4 |
|
Karabuk |
8 mm |
2,712 |
555 |
↑ |
17 |
↓ |
6 |
|
Karabuk |
12 mm |
2,695 |
551 |
↑ |
17 |
↓ |
6 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 4.89