Prices increase further in local Turkish rebar market

Over the past week, prices in the local Turkish rebar market have continued to increase due to strong demand in the domestic market and as the upward movement observed in import scrap prices over past weeks has continued to support domestic rebar prices. Producers’ prices in the Iskenderun region have increased more than prices of domestic producers located in other regions of Turkey, due to the contraction of rebar supplies in Iskenderun, according to market sources.

As of today, February 11, Turkish steel producer Koç Metalürji and İçdaş have opened their domestic sales for 12 mm rebar at the levels of TRY 2,797/mt ($531/mt) ex-works and 2,714 TRY/mt ($515/mt) ex-works, respectively, both excluding VAT. As a result, traders’ domestic rebar prices in Turkey have increased by TRY 25-85/mt since SteelOrbis’ report published on February 7.

As of today, February 11, traders’ rebar offers in the Turkish domestic market are as follows:

All prices are ex-warehouse and on actual weight basis and exclude VAT.

$1 = TRY 5.27