In the past two weeks, local Turkish merchant bar prices have increased by TRY 150-350/mt against the backdrop of rapid currency fluctuations. Most suppliers are waiting for the Turkish Central Bank’s interest rate decision due on Thursday, September 23, while some people believe the interest rate will remain unchanged and some say it will be reduced slightly.
Merchant bar suppliers in the Izmir and Denizli regions have increased their prices by bigger margins compared to the other regions due to costlier billet prices. In addition, one Iskenderun-based supplier has kept its dollar-based merchant bar prices stable to avoid the risk of currency fluctuations. Moreover, suppliers in the Karabuk region have increased their prices by smaller margins compared to the other regions in order to bring their prices closer to merchant bar prices in the Iskenderun region.
Most Turkish merchant bar rerollers are offering material for November delivery or limited tonnages available either from stocks or for late October delivery. An Izmir-based mill is currently offering its HEA/HEB (100-200 mm, standard) at $870/mt ex-works.
Equal Angle Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
6,350-6,400 |
733-739 |
+350 |
+13 |
|
Karabuk Region (30-100mm) |
5,950-6,100 |
687-704 |
+150 |
-9 |
|
Iskenderun Region (30-100 mm) |
5,975 |
690 |
+225 |
0 |
|
Izmir Region (30-100 mm) |
6,300-6,350 |
727-733 |
+350 |
+13 |
Flat Bar Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
6,380-6,430 |
737-742 |
+350 |
+13 |
|
Karabuk Region (30-100mm) |
5,980-6,130 |
691-708 |
+150 |
-10 |
|
Iskenderun Region (30-100 mm) |
6,005 |
693 |
+225 |
-1 |
|
Izmir Region (30-100 mm) |
6,330-6,380 |
731-737 |
+350 |
+13 |
NPI-NPU Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
6,350-6,400 |
733-739 |
+350 |
+13 |
|
Karabuk Region (30-100 mm) |
5,950-6,100 |
687-704 |
+150 |
-9 |
|
Iskenderun Region (30-100 mm) |
5,975 |
690 |
+225 |
0 |
|
Izmir Region (30-50 mm) |
6,300-6,350 |
727-733 |
+350 |
+13 |
The above prices exclude 18 percent VAT, are on ex-works basis and for cash payment. Price changes in the tables above are calculated as compared to Tuesday, September 7.
$1 = TRY 8.66