Turkish rebar market still being impacted by construction sector crisis

Monday, 10 December 2018 17:09:52 (GMT+3)   |   Istanbul
       

Last week, prices in the local Turkish rebar market increased amid the depreciation of the Turkish lira against the US dollar. However, the higher prices levels failed to gain acceptance due to the crisis in the construction sector and lower-priced Iranian rebar imports. As a result, demand for domestic rebar in Turkey remained weak. The official data announced today, December 10, also revealed the crisis in the Turkish construction sector as the construction sector contracted by 5.3 percent year on year in the third quarter of this year.

As the Turkish lira has started this week with a slight strengthening against the US dollar, domestic rebar prices in Turkey have decreased by TRY 33-60/mt. Meanwhile, Turkish producer Icdas decreased its prices by TRY 95/mt + VAT as compared to its previous price list issued on December 3. The producers’ prices in Marmara region are now at TRY 2,524/mt ($477/mt) + VAT ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 2,490/mt ($471/mt) + VAT ex-works.

Despite the declines in prices, demand for domestic rebar in Turkey is not expected to recover in the coming period due to the approach of the new year.

As of today, December 10, 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)

06.12.2018

06.12.2018

Marmara

8 mm

2,517

476

34

2

Marmara

12 mm

2,500

473

34

2

Iskenderun

8 mm

2,525

477

60

3

Iskenderun

10 mm

2,513

475

59

3

Iskenderun

12 mm

2,500

473

59

3

Izmir

8 mm

2,508

474

43

 

0

Izmir

10 mm

2,500

473

42

 

0

Izmir

12 mm

2,492

471

42

 

0

Karabuk

8 mm

2,508

474

34

1

Karabuk

12 mm

2,492

471

33

2

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


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