Buyers in the local Turkish rebar market are still concluding purchases only in line with their needs, while they also prefer just to observe the market due to uncertainty regarding the margin of the planned reduction in rebar import duty. Turkish economy minister Nihat Zeybekci has stated that the reduction of import duties on rebar will be by more than half from the current level of 30 percent, adding that the decision will be announced officially soon. Demand in the local Turkish rebar market is not expected to revive until the margin of the reduction is announced. Meanwhile, domestic rebar prices in Turkey have continued their declining trend and are currently TRY 30-70/mt lower than the price levels recorded on June 5.
As of today, June 8, 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) | ||
05.06.2017 | 05.06.2017 | ||||||
Marmara | 8 mm | 1,703 | 481 | ↓ | 43 | ↓ | 11 |
Marmara | 12 mm | 1,686 | 476 | ↓ | 43 | ↓ | 11 |
Iskenderun | 8 mm | 1,661 | 469 | ↓ | 25 | ↓ | 6 |
Iskenderun | 10 mm | 1,653 | 467 | ↓ | 25 | ↓ | 6 |
Iskenderun | 12 mm | 1,644 | 464 | ↓ | 25 | ↓ | 6 |
Izmir | 8 mm | 1,678 | 474 | ↓ | 34 | ↓ | 8 |
Izmir | 10 mm | 1,669 | 472 | ↓ | 34 | ↓ | 8 |
Izmir | 12 mm | 1,661 | 469 | ↓ | 34 | ↓ | 8 |
Karabuk | 8 mm | 1,669 | 472 | ↓ | 60 | ↓ | 15 |
Karabuk | 12 mm | 1,653 | 467 | ↓ | 59 | ↓ | 15 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.55