Demand in the local Turkish rebar market has remained weak since August 4, while domestic rebar prices in Turkey have moved sideways in the same period despite the Turkish lira gaining strength against the US dollar.
Although these factors would usually have a negative effect on prices, domestic rebar prices in Turkey have remained unchanged as Chinese billet quotations are still expected to move up further. If Chinese billet prices do indeed increase further, the rises recorded in Chinese billet quotations are expected to be reflected in global billet prices first and then to provide support for an increase in global long steel prices.
Although domestic rebar prices on Turkish lira basis have remained unchanged since August 4, due to currency fluctuations prices in the local Turkish rebar market have increased by $5-6/mt on US dollar basis in the same period.
As of today, August 8, traders' rebar offers in the Turkish domestic market are as follows:
| Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
| 04.08.2016 | 04.08.2016 | ||||||
| Marmara | 8 mm | 1,220 | 410 | 0 | ↑ | 6 | |
| Marmara | 12 mm | 1,203 | 404 | 0 | ↑ | 6 | |
| Iskenderun | 8 mm | 1,178 | 395 | 0 | ↑ | 5 | |
| Iskenderun | 10 mm | 1,169 | 392 | 0 | ↑ | 5 | |
| Iskenderun | 12 mm | 1,161 | 390 | 0 | ↑ | 6 | |
| Izmir | 8 mm | 1,195 | 401 | 0 | ↑ | 5 | |
| Izmir | 10 mm | 1,186 | 398 | 0 | ↑ | 5 | |
| Izmir | 12 mm | 1,178 | 395 | 0 | ↑ | 5 | |
| Karabuk | 8 mm | 1,195 | 401 | 0 | ↑ | 5 | |
| Karabuk | 12 mm | 1,178 | 395 | 0 | ↑ | 5 | |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.98