Today, November 7, local 12 mm rebar spot prices in Turkey have remained stable on lira basis compared to yesterday at TRY 2,458-2,441/mt delivered to customer, though the range on US dollar basis has increased by $1/mt to $425-430/mt delivered to customer, both excluding 18 percent VAT. SteelOrbis has been informed by some market players that most traders have adopted a wait-and-see stance since their inventories at medium levels give them the opportunity to wait and see how long the current strength of import scrap prices will last. On the other hand, some market sources state that traders’ inventory levels are low and that buyers should restart purchasing in the short term. Meanwhile, SteelOrbis reported earlier that demand for Kardemir’s rebar in its sales opened on October 22 has recently improved, though it is observed that no high volume has been bought from Kardemir, just small deals concluded by many buyers.
Today, Turkish mill Icdas has kept its 12-32mm rebar prices at TRY 2,475/mt ($431/mt) ex-works, while Izmir Demir Celik has kept its 12-32 mm rebar prices its rebar prices at 2,483/mt ($433/mt) ex-works, both excluding VAT. Additionally, market sources report that Turkish rebar mills are offering discounts of TRY 20-40/mt including VAT for serious buyers.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
|
06.11.2019 |
06.11.2019 |
||||
|
Marmara |
8 mm |
2,466 |
430 |
0 |
+1 |
|
Marmara |
12 mm |
2,449 |
427 |
0 |
+1 |
|
Iskenderun |
8 mm |
2,483 |
433 |
0 |
+1 |
|
Iskenderun |
10 mm |
2,470 |
430 |
0 |
+1 |
|
Iskenderun |
12 mm |
2,458 |
428 |
0 |
+1 |
|
Izmir |
8 mm |
2,458 |
428 |
0 |
+1 |
|
Izmir |
10 mm |
2,449 |
427 |
0 |
+1 |
|
Izmir |
12 mm |
2,441 |
425 |
0 |
+1 |
|
Karabuk |
8 mm |
2,458 |
428 |
0 |
+1 |
|
Karabuk |
12 mm |
2,441 |
425 |
0 |
+1 |
All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.
$1 = TRY 5.74