The Turkish domestic rebar market has continued its downtrend. Market players state that rebar demand, especially coming from end-users, is fairly low. Although Turkish mills have succeeded in selling rebar at TRY 1,102/mt ($609/mt) + VAT ex-works and slightly above, taking advantage of low inventory levels of traders, anticipations for further price cuts are causing buyers to delay their purchases and this is resulting in softer prices in return. If the market situation continues as such, it is thought that rebar prices may see TRY 1,076/mt ($595/mt) + VAT ex-warehouse towards the end of the current month.
According to information collected by SteelOrbis from market sources, as of September 13 traders' rebar prices in the Turkish domestic steel market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price change (TRY/mt) 11.09.2012 |
Marmara |
8 mm |
1,310 |
613 |
-5 |
Marmara |
12 mm |
1,290 |
604 |
-5 |
Iskenderun |
8 mm |
1,310 |
613 |
-10 |
Iskenderun |
10 mm |
1,300 |
609 |
-10 |
Iskenderun |
12 mm |
1,290 |
604 |
-10 |
Izmir |
8 mm |
1,300 |
609 |
0 |
Izmir |
10 mm |
1,285 |
602 |
0 |
Izmir |
12mm |
1,275 |
597 |
0 |
Karabuk |
8 mm |
1,315 |
616 |
-15 |
Karabuk |
12 mm |
1,295 |
606 |
-15 |
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 1.81