Rebar prices in the Turkish domestic market have continued to soften, despite the strengthening of the US dollar against the Turkish lira, due to the sluggishness in Turkey's rebar export markets and the ongoing decline in rebar prices also on dollar basis.
Despite lower rebar prices, the transaction volume in the Turkish domestic market has remained fairly low and buyers prefer not to conclude purchases exceeding their urgent needs. The postponement by buyers of their rebar purchases due to the uncertain market conditions is affecting the market negatively, while it is learned that some traders who want to reduce their inventory levels are selling rebar significantly below mainstream spot prices.
According to information collected by SteelOrbis from market sources, as of today, June 1, rebar prices in the Turkish domestic steel market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price change (TRY/mt) 29.05.2012 |
Marmara | 8 mm | 1,385 | 631 | -15 |
Marmara | 12 mm | 1,365 | 622 | -15 |
Iskenderun | 8 mm | 1,405 | 640 | -5 |
Iskenderun | 10 mm | 1,395 | 636 | -5 |
Iskenderun | 12 mm | 1,385 | 631 | -5 |
Izmir | 8 mm | 1,365 | 622 | -20 |
Izmir | 10 mm | 1,350 | 615 | -20 |
Izmir | 12mm | 1,340 | 611 | -20 |
Karabuk | 8 mm | 1,390 | 634 | -10 |
Karabuk | 12 mm | 1,370 | 625 | -10 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 1.859