Rebar markets got off to a lively start this week and an upward trend has been observed. Increased demand is also supporting the rise in prices. Factories in Payas closed their prices due to high demand, while other regions saw a slight increase in prices.
The rebar market in Türkiye gained momentum in mid-December as domestic demand remained strong. Prices varied regionally across the country, with rebar prices in Izmir hovering around $565/mt. In the Marmara Region, ex-mill prices increased to $575/mt. Although İçdaş, in particular, lowered its official prices to $580/mt, some buyers were able to procure products at $565/mt. Producers, who have been making losses for a long time, had the opportunity to improve their margins during this period.
On the export side, producers' official export quotations for rebar were mostly around $565-575/ton FOB on Thursday.
Sustainability of price hike in question
There are uncertainties about the sustainability of price increases. In the short term, rebar prices are expected to remain under pressure if demand declines and scrap prices do not stabilize. However, positive news, such as any stimulus measures for China's economy, could have a significant impact on global steel markets and help stabilize the competitive environment.
Türkiye spot rebar prices by region, as assessed by www.steelradar.com on December 10, 2024;
Istanbul rebar prices 23.900 TL (+100) $571
Izmir rebar prices 23.600 TL (+100) $564
Karabuk rebar prices 23.700 TL (+200) $564
Payas rebar prices 23.850 TL (+150) $570
1 USD = 34,85 TL
©SteelRadar
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