Turkish domestic merchant prices increase despite weak demand

Thursday, 02 May 2019 17:58:25 (GMT+3)   |   Istanbul
       

Over the past two weeks, Turkish merchant bar producers have increased their prices for their domestic market by TRY 60-80/mt to TRY 3,050-3,340/mt ex-works due to the depreciation of the Turkish lira against the US dollar. According to market sources, due to the weakness of activity in the Turkish construction sector and since US dollar has been gaining strength against the lira, Turkish buyers have been cautious about making new bookings and traders are unwilling to keep high inventories.  Meanwhile, it seems that Turkish billet producers are unable to sell their desired volumes ahead of Ramadan due to the current cautious mood among buyers.

Equal Angle Prices:   

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Denizli Region (30-100 mm)

3,330-3,340

558-559

↑65

Karabuk Region (30-100mm)

3,150-3,200

527-536

↑60

Iskenderun Region (30-100 mm)

3,050-3,060

511-513

↑80

Izmir Region (30-100 mm)

3,300-3,310

553-553

↑65

 

Flat Bar Prices: 

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Denizli Region (30-100 mm)

3,360-3,370

563-564

↑65

Karabuk Region (30-100mm)

3,180-3,230

533-541

↑60

Iskenderun Region (30-100 mm)

3,080-3,090

516-518

↑80

Izmir Region (30-100 mm)

3,330-3,340

558-559

↑65

 

NPI-NPU Prices: 

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Denizli Region (30-100 mm)

3,330-3,340

558-559

↑65

Karabuk Region (30-100 mm)

3,150-3,200

527-536

↑60

Iskenderun Region (30-100 mm)

3,050-3,060

511-513

↑80

Izmir Region (30-50 mm)

3,300-3,310

553-553

↑65

The above prices exclude 18 percent VAT and are on ex-works basis.

$1 = TRY 5.97


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