Slight revival of activity in local Turkish rebar market

Thursday, 26 April 2018 17:25:15 (GMT+3)   |   Istanbul
       

The fluctuating trend of the local Turkish rebar market caused by the sharp volatility of the Turkish lira-US dollar exchange rate had been causing local buyers to postpone their rebar purchases and to wait for a clearer picture of the future trend of the local rebar market. Accordingly, buyers’ inventory levels have fallen significantly and so they have started to accelerate their domestic rebar purchases, resulting in a slight revival of actvity in the market.

Additionally, Turkish producer Icdas announced its 12-32 mm rebar prices in Turkey's Marmara region yesterday, April 25, at TRY 2,305/mt ($565/mt) + VAT ex-works, TRY 34/mt higher as compared to its previous price list issued on April 19. Similarly, Turkish steel producer Bastug Metalurji has announced its domestic rebar quotations today for 12-32 mm rebar at TRY 2,305/mt ($566/mt), TRY 42-43/mt + VAT higher as compared to its previous price list issued on April 19.

The upward trend in the local Turkish rebar market started by the movement of the Turkish lira-US dollar exchange rate has found support from the increasing prices of Turkish mills as well as from the slight revival in demand. Meanwhile, domestic rebar prices in Turkey have moved up by TRY 34-68/mt since April 19.

As of today, April 26, 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)

19.04.2018

19.04.2018

Marmara

8 mm

2,331

573

43

7

Marmara

12 mm

2,314

568

43

6

Iskenderun

8 mm

2,331

573

68

13

Iskenderun

10 mm

2,318

569

68

12

Iskenderun

12 mm

2,305

566

68

12

Izmir

8 mm

2,322

571

59

11

Izmir

10 mm

2,314

568

60

10

Izmir

12 mm

2,305

566

59

10

Karabuk

8 mm

2,331

573

34

5

Karabuk

12 mm

2,314

568

34

4

 

All prices are ex-warehouse and on actual weight basis and exclude VAT.

$1 = TRY 4.07

 


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