According to market sources, demand in the local Turkish rebar market has shown no improvement since last week and spot prices have continued their declining trend in the same period. Traders in the local Turkish market are trying to avoid building up their stocks and are only concluding purchases in line with the orders they receive.
Meanwhile, after Turkish steelmaker Kardemir's announcement of reduced rebar prices, local steel producer Icdas has also revised its rebar offers downwards, today, November 24.
As of today, November 24, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 21.11.2014 |
Marmara | 8 mm | 1,310 | 498 | -10 |
Marmara | 12 mm | 1,290 | 490 | -10 |
Iskenderun | 8 mm | 1,265 | 481 | -15 |
Iskenderun | 10 mm | 1,250 | 475 | -10 |
Iskenderun | 12 mm | 1,240 | 471 | -10 |
Izmir | 8 mm | 1,300 | 494 | -10 |
Izmir | 10 mm | 1,290 | 490 | -10 |
Izmir | 12 mm | 1,280 | 486 | -10 |
Karabuk | 8 mm | 1,305 | 496 | -5 |
Karabuk | 12 mm | 1,285 | 488 | -5 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.23