With the support of the upward movement of import scrap prices in Turkey since the beginning of February domestic rebar quotations have maintained their uptrend, while their upward movement has slightly lost its pace since February 13 due to the cash flow problems experienced in the market. Domestic rebar quotations in Turkey have mostly increased by TRY 10/mt since February 13, except of the Marmara region where prices have remained unchanged, though prices on US dollar basis have moved up by $1-4/mt due to the fluctuation of the exchange rate. And although it is observed that sellers are offering discounts from time to time to secure their cash flow, market sources believe that domestic rebar quotations will not record a sharp fall in the short term amid the livelier demand and also due to the ongoing upward movement of import scrap prices.
As of today, February 16, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
13.02.2017 | 13.02.2017 | ||||||
Marmara | 8 mm | 1,602 | 435 | 0 | ↑ | 1 | |
Marmara | 12 mm | 1,585 | 431 | 0 | ↑ | 2 | |
Iskenderun | 8 mm | 1,568 | 426 | ↑ | 9 | ↑ | 3 |
Iskenderun | 10 mm | 1,559 | 424 | ↑ | 8 | ↑ | 4 |
Iskenderun | 12 mm | 1,551 | 421 | ↑ | 9 | ↑ | 3 |
Izmir | 8 mm | 1,576 | 428 | ↑ | 8 | ↑ | 3 |
Izmir | 10 mm | 1,568 | 426 | ↑ | 9 | ↑ | 3 |
Izmir | 12 mm | 1,559 | 424 | ↑ | 8 | ↑ | 4 |
Karabuk | 8 mm | 1,568 | 426 | ↑ | 9 | ↑ | 3 |
Karabuk | 12 mm | 1,551 | 421 | ↑ | 9 | ↑ | 3 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.68