As Turkish lira has compensated some of its loss against the US dollar following the efficient interventions made by the Turkish Central Bank and Turkey’s banking regulation and supervision agency at the beginning of the current week, domestic rebar prices in Turkey have fallen sharply. Market sources state that, despite lower prices, demand in the local Turkish rebar market has remained at low levels amid the ongoing high level of the exchange rate which is still very volatile and also due to the approaching Feast of Sacrifice holiday which will last for a full week starting from August 20. Under the current circumstances, demand in the local Turkish rebar market is expected to remain at low levels in the short term. Meanwhile, domestic rebar prices in Turkey have decreased by TRY 636-678/mt + VAT as compared to SteelOrbis’ report published on August 13.
As of today, August 16, 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) |
||
|
13.08.2018 |
13.08.2018 |
||||||
|
Marmara |
8 mm |
3,076 |
530 |
↓ |
661 |
↓ |
10 |
|
Marmara |
12 mm |
3,059 |
527 |
↓ |
661 |
↓ |
11 |
|
Iskenderun |
8 mm |
3,076 |
530 |
↓ |
678 |
↓ |
13 |
|
Iskenderun |
10 mm |
3,064 |
528 |
↓ |
678 |
↓ |
13 |
|
Iskenderun |
12 mm |
3,051 |
526 |
↓ |
678 |
↓ |
14 |
|
Izmir |
8 mm |
3,068 |
529 |
↓ |
661 |
↓ |
11 |
|
Izmir |
10 mm |
3,059 |
527 |
↓ |
661 |
↓ |
11 |
|
Izmir |
12 mm |
3,051 |
526 |
↓ |
661 |
↓ |
11 |
|
Karabuk |
8 mm |
3,085 |
532 |
↓ |
636 |
↓ |
7 |
|
Karabuk |
12 mm |
3,068 |
529 |
↓ |
636 |
↓ |
7 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 5.80