According to market sources, some producers in the local Turkish structural steel market have revised their prices upwards on Turkish lira basis due to the strengthening of the US dollar against the lira, while other producers are unwilling to increase their prices for now. Today, June 1, the US dollar has risen above 2.67 against the Turkish lira. Market sources state that, if the strengthening of the US dollar against the Turkish lira continues, producers may adjust their prices once more on Turkish lira basis. While the US dollar has strengthened against the lira, raw material prices have declined during the past week, leading merchant bar buyers to maintain a wait-and-see approach, causing demand to slacken in the local market. One of the reasons for the weak demand is buyers' desire to wait and see a clearer trend after the June 7 general election.
As of today, June 1, merchant bar prices in the Turkish domestic market are as follows:
Denizli region
| NPI-NPU 180-200 mm |
TRY 1,400-1,440/mt (522-537/mt) |
| T Profile 25 mm |
TRY 1,480-1,520/mt (552-567/mt) |
| T Profile 50 mm |
TRY 1,500-1,540/mt (560-575/mt) |
| Square 10-25 mm |
TRY 1,400-1,440/mt (522-537/mt) |
| Square 25-50 mm |
TRY 1,420-1,460/mt (529-545/mt) |
Izmir region
| NPI-NPU 65-160 mm |
TRY 1,360-1,400/mt (507-522/mt) |
| NPI-NPU 180-200 mm |
TRY 1,380-1,420/mt (515-530/mt) |
| Square 10-25 mm |
TRY 1,400-1,440/mt (522-537/mt) |
| Square 25-50 mm |
TRY 1,410-1,450/mt (526-541/mt) |
Karabuk region
| NPI-NPU 160 mm |
€465/mt ($512/mt) |
| NPI-NPU 180-300 mm |
€470/mt ($517/mt) |
| NPI-NPU 320-550 mm |
€530/mt ($583/mt) |
| HEA/HEB 120-180 mm |
€480/mt ($528/mt) |
| HEA/HEB 220-260 mm |
€530/mt ($583/mt) |
The above prices,which exclude VAT, are on ex-works basis.
$1 = TRY 2.68
€1 = $1.10