SteelOrbis has been informed that rebar prices in the local Turkish market have continued their downtrend over the past week. On October 27, Turkish producer Icdas announced its 12-32 mm rebar prices in Turkey's Marmara region at TRY 1,212/mt ($543/mt) + VAT ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 1,199/mt ($538/mt) + VAT ex-works, indicating a decline of TRY 65/mt ($29/mt) as compared to its previous price list issued on October 13. However, due to weak demand, local producers are concluding transactions at levels significantly lower than Icdas' list prices. Meanwhile, local traders' prices have declined gradually, while they are only concluding purchases in line with the orders they receive.
As of today, November 4, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 21.10.2014 |
Marmara | 8 mm | 1,390 | 528 | -65 |
Marmara | 12 mm | 1,370 | 521 | -65 |
Iskenderun | 8 mm | 1,395 | 530 | -40 |
Iskenderun | 10 mm | 1,380 | 524 | -40 |
Iskenderun | 12 mm | 1,370 | 521 | -40 |
Izmir | 8 mm | 1,395 | 530 | -45 |
Izmir | 10 mm | 1,385 | 526 | -45 |
Izmir | 12 mm | 1,375 | 523 | -45 |
Karabuk | 8 mm | 1,410 | 536 | -45 |
Karabuk | 12 mm | 1,390 | 528 | -45 |
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 2.23