In the Turkish domestic rebar market the downtrend of prices still continues, after local rebar producer Icdas' new price adjustment announcement today, June 11. Witnessing very weak domestic demand, the Turkish rebar market is following the export markets closely. As of today, Turkish rebar export offers at $610-615/mt FOB are unable to attract significant demand and this is also causing buyers in the local Turkish market to avoid building up stocks. Since the eventual bottom level of rebar prices remains difficult to predict, buyers are keeping their purchases to a minimum, seeking to avoid risks in this depressed period.
According to information collected by SteelOrbis from market sources, as of today, June 11, rebar prices in the Turkish domestic steel market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price change (TRY/mt) 08.06.2012 |
Marmara |
8 mm |
1,370 |
638 |
-10 |
Marmara |
12 mm |
1,350 |
629 |
-10 |
Iskenderun |
8 mm |
1,380 |
643 |
-5 |
Iskenderun |
10 mm |
1,370 |
638 |
-5 |
Iskenderun |
12 mm |
1,360 |
633 |
-5 |
Izmir |
8 mm |
1,360 |
633 |
-5 |
Izmir |
10 mm |
1,345 |
626 |
-5 |
Izmir |
12mm |
1,335 |
622 |
-5 |
Karabuk |
8 mm |
1,365 |
636 |
-5 |
Karabuk |
12 mm |
1,345 |
626 |
-5 |
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 1.82