Demand in the local Turkish rebar spot market has been quiet lately, while prices have declined over the past week due to developments such as CIS billet producers' return to the market after the holiday season with revised export prices, and the conclusion of an ex-CIS deal to Turkey for 20,000 mt of billets. Additionally, an ex-US scrap deal is heard to have been concluded by a Turkish producer. Under these circumstances, Turkish steelmaker Icdas revised its prices downwards today, January 15.
Market sources believe that, in the coming days Turkish rebar market will be shaped by the scrap and billet prices instead of demand.
As of today, January 15, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
12.1.2015 | ||||
Marmara | 8 mm | 1,395 | 519 | -15 |
Marmara | 12 mm | 1,375 | 511 | -15 |
Iskenderun | 8 mm | 1,320 | 491 | - |
Iskenderun | 10 mm | 1,310 | 487 | - |
Iskenderun | 12 mm | 1,300 | 483 | - |
Izmir | 8 mm | 1,365 | 507 | -20 |
Izmir | 10 mm | 1,350 | 502 | -20 |
Izmir | 12 mm | 1,340 | 498 | -20 |
Karabuk | 8 mm | 1,360 | 506 | - |
Karabuk | 12 mm | 1,340 | 498 | - |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.28