Market players report that, even though demand for rebar has continued to be low in the local Turkish market, tight availability for some grades has provided support for local quotations, preventing prices from declining. Meanwhile, local steelmakers' rebar offers are standing in the range of TRY 1,220-1,237/mt ($575-583/mt) ex-works, excluding VAT.
In the meantime, market activity is expected to robust in the coming period since local traders, seeking to avoid having shipment problems after the Ramadan holiday, are expected to increase their purchases.
As of today, July 14, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 7.7.2014 |
Marmara | 8 mm | 1,465 | 586 | 0 |
Marmara | 12 mm | 1,445 | 578 | 0 |
Iskenderun | 8 mm | 1,410 | 564 | 0 |
Iskenderun | 10 mm | 1,400 | 560 | 0 |
Iskenderun | 12 mm | 1,390 | 556 | 0 |
Izmir | 8 mm | 1,435 | 574 | 0 |
Izmir | 10 mm | 1,425 | 570 | 0 |
Izmir | 12 mm | 1,415 | 566 | 0 |
Karabuk | 8 mm | 1,440 | 576 | 0 |
Karabuk | 12 mm | 1,420 | 568 | 0 |
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 2.12