Due to factors including the $10/mt week-on-week decrease in import scrap prices and weak end-user demand, traders in the local Turkish rebar market have had to revise their local offers downward after the Feast of Sacrifice holiday. Meanwhile, the slight strengthening of the Turkish lira against the US dollar, following its previous sharp depreciation against the dollar, has caused buyers to adopt a wait-and-see stance, which has weakened local rebar demand further.
Meanwhile, Turkish steelmakers' rebar prices are varying in the range of TRY 1,288-1,305/mt ($570-577/mt) ex-works, exclusive of VAT.
As of today, October 9, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 26.9.2014 |
Marmara | 8 mm | 1,520 | 570 | -20 |
Marmara | 12 mm | 1,500 | 562 | -20 |
Iskenderun | 8 mm | 1,520 | 570 | -10 |
Iskenderun | 10 mm | 1,505 | 564 | -10 |
Iskenderun | 12 mm | 1,495 | 561 | -10 |
Izmir | 8 mm | 1,515 | 568 | 0 |
Izmir | 10 mm | 1,505 | 564 | 0 |
Izmir | 12 mm | 1,495 | 561 | 0 |
Karabuk | 8 mm | 1,520 | 570 | -10 |
Karabuk | 12 mm | 1,500 | 562 | -10 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.26