Turkish domestic rebar prices soften despite depreciation of lira

Monday, 17 December 2018 17:29:31 (GMT+3)   |   Istanbul
       

Demand in the local Turkish rebar market is observed to be at very low levels, while domestic rebar prices have moved down on Turkish lira basis due to the weakness of demand, despite the depreciation of the Turkish lira against the US dollar. Meanwhile, low-priced rebar imports from Iran and the contraction of Turkey’s construction sector continue to exert a negative influence. As compared to SteelOrbis’ report published on December 13, domestic rebar prices in Turkey have decreased by TRY 8-33/mt week on week. While no revival in domestic rebar demand is expected before the new year, prices are expected to fluctuate in line with the movements of the Turkish lira-US dollar exchange rate.

As of today, December 17, 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)

13.12.2018

13.12.2018

Marmara

8 mm

2,492

463

33

11

Marmara

12 mm

2,475

460

33

11

Iskenderun

8 mm

2,483

462

25

9

Iskenderun

10 mm

2,470

459

26

9

Iskenderun

12 mm

2,458

457

25

9

Izmir

8 mm

2,500

465

17

7

Izmir

10 mm

2,492

463

16

8

Izmir

12 mm

2,483

462

17

7

Karabuk

8 mm

2,492

463

8

6

Karabuk

12 mm

2,475

460

8

6

 

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

$1 = TRY 5.38


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet