According to market sources, rebar prices in the local Turkish spot market have decreased by around TRY 10-40/mt since August 31, excluding the Iskenderun and Marmara regions where prices have moved sideways, though prices on US dollar basis have decreased by $6-7/mt due to the fluctuation of the exchange rate. Even though the US dollar is strengthening against the Turkish lira, market players state that they cannot revise their prices upwards due to slack demand. Meanwhile, buyers are postponing their rebar bookings since they think that prices will decrease further in the coming period against the backdrop of the downtrend in import scrap offers and decreasing finished steel prices.
As of today, September 3, traders’ rebar offers in the Turkish domestic market are as follows:
| Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | |
| 31.08.2015 | |||||
| Marmara | 8 mm | 1,195 | 402 | 0 | |
| Marmara | 12 mm | 1,178 | 397 | 0 | |
| Iskenderun | 8 mm | 1,110 | 374 | 0 | |
| Iskenderun | 10 mm | 1,102 | 371 | 0 | |
| Iskenderun | 12 mm | 1,093 | 368 | 0 | |
| Izmir | 8 mm | 1,165 | 392 | - | 10 |
| Izmir | 10 mm | 1,153 | 388 | - | 10 |
| Izmir | 12 mm | 1,144 | 385 | - | 10 |
| Karabuk | 8 mm | 1,144 | 385 | - | 40 |
| Karabuk | 8 mm | 1,127 | 380 | - | 40 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.97