While the depreciation of the Turkish lira against the US dollar has caused uncertainties and negative sentiment in the local Turkish rebar market, trading activities have declined to very low levels due to the current situation. Besides the sharp upward movement of domestic rebar prices with new record price levels reached every day due to the changes in Turkish lira-US dollar exchange rate, the snap election to be held in June as well as Ramadan have also caused buyers to maintain a cautious stance as regards purchases.
However, the psychological threshold of TRY 3,000/mt in Turkey’s Marmara region has been exceeded and domestic rebar prices in this region are currently at TRY 3,010/mt, both including VAT. It is also observed that domestic rebar prices in Turkey’s other regions are very close to this level.
As of today, May 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) |
||
|
17.05.2018 |
17.05.2018 |
||||||
|
Marmara |
8 mm |
2,568 |
561 |
↑ |
34 |
↓ |
10 |
|
Marmara |
12 mm |
2,551 |
557 |
↑ |
34 |
↓ |
10 |
|
Iskenderun |
8 mm |
2,525 |
551 |
↑ |
42 |
↓ |
8 |
|
Iskenderun |
10 mm |
2,513 |
549 |
↑ |
42 |
↓ |
8 |
|
Iskenderun |
12 mm |
2,500 |
546 |
↑ |
42 |
↓ |
8 |
|
Izmir |
8 mm |
2,534 |
553 |
↑ |
34 |
↓ |
10 |
|
Izmir |
10 mm |
2,525 |
551 |
↑ |
34 |
↓ |
10 |
|
Izmir |
12 mm |
2,517 |
550 |
↑ |
34 |
↓ |
10 |
|
Karabuk |
8 mm |
2,517 |
550 |
↑ |
34 |
↓ |
10 |
|
Karabuk |
12 mm |
2,500 |
546 |
↑ |
34 |
↓ |
10 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 4.58