Rebar spot prices in some regions of Turkey have registered slight increases. Meanwhile, following the conclusion of an ex-US HMS I/II 80:20 scrap deal at $381/mt CFR, if scrap transaction prices remain at around this levels, it is expected that the Turkish rebar market will see some recovery in terms of activity and prices may move up in the coming days.
On the other hand, Turkey's Kardemir closed its domestic rebar sales yesterday, April 24, which had been opened earlier on the same day at TRY 1,089/mt ($605/mt) ex-works, excluding VAT, after selling 40,800 mt of rebar. Turkish steel mills, whose raw material inventories are at low levels, are expected to accelerate their scrap purchases in the days ahead.
As of today, April 25, traders' rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes 18.04.2013 |
Marmara |
8 mm |
1,305 |
614 |
+5 |
Marmara |
12 mm |
1,285 |
605 |
+5 |
Iskenderun |
8 mm |
1,310 |
617 |
0 |
Iskenderun |
10 mm |
1,300 |
612 |
0 |
Iskenderun |
12 mm |
1,290 |
607 |
0 |
Izmir |
8 mm |
1,300 |
612 |
0 |
Izmir |
10 mm |
1,285 |
605 |
0 |
Izmir |
12 mm |
1,275 |
600 |
0 |
Karabuk |
8 mm |
1,320 |
621 |
+5 |
Karabuk |
12 mm |
1,300 |
612 |
+5 |
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 1.80