Turkish mills have already taken the relevant measures such as reducing their production capacity utilization, while a few mills have started maintenance works. However, the overall picture both in the domestic and export segments in terms of demand is still not promising. Most international buyers are exerting pressure for additional discounts. A few market players believe that the trading activity might gain momentum in the second quarter of 2026. Also, the next EU longs quota period will begin on April 1. Domestically, a new project affecting the construction sector is highly discussed in the Turkish market. The first official step in the "My First Home Loan" regulation came from the Banking Regulation and Supervision Agency (BDDK). The Banking Regulation and Supervision Agency (BDDK), with its Board decision dated January 29, 2026, revised the loan-to-value ratios for housing loans. With this decision, the distinction between new and second-hand housing loans was eliminated, and the regulation aims to support first-time homebuyers, encourage energy-efficient homes and protect financial stability. Further details are expected to be issued in the near term. This development may have a positive impact on local demand, while some people think that the final impact will take a little longer to be seen due to the unclear financial situation in the country.
A few Marmara-based mills are still offering rebar officially at $570/mt ex-works, while Izmir-based mills' official rebar prices are standing at around $550/mt ex-works, stable over the past week. One of the key Iskenderun region-based producers is offering rebar at around $540/mt ex-works, down by $5/mt. The overall workable rebar prices have settled at $540-560/mt ex-works, also indicating a decrease of $5/mt on the lower end for large tonnages, while in the Marmara region smaller lots are being offered at $565/mt ex-works, also falling by $5/mt over the past week. The ongoing depreciation of the Turkish lira against the US dollar, the sluggish demand ahead of Ramadan and the adverse weather condition are the main reasons for this downward trend in rebar prices.
Ex-Turkey official rebar prices are still standing at $550-570/mt FOB for February shipments, unchanged week on week. However, due to the slow trading activity, $540-560/mt FOB in line with local rebar prices may be tested, depending on the tonnage and country, on rare occasions. Some Turkish mills may even prefer not to quote any price levels if the export price levels hit $540/mt FOB, given the high production costs in the country. In addition, a few rebar inquiries are coming from Bulgaria and Romania, SteelOrbis has heard.
In the wire rod segment, official export prices have also remained flat, at $560-580/mt FOB for February shipments. The higher end seems a bit high under the current market conditions. So, the workable wire rod export price seems closer to $550-570/mt FOB. Locally, official wire rod prices in Turkey have also anchored at $550-580/mt ex-works, depending on the region, over the past week.
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