Rebar demand decreased in Turkiye

Rebar demand slows as imported scrap prices increase in Turkiye. Scrap contacts in the Turkish steel market;

Europe to Aegean region ½ HMS scrap $364.50 20,000ton bonus scrap $384.50 5,000ton September/October Shipment

HMS 80:20 from Europe to Iskenderun area 368.50$

Hms 80:20 from USA to Marmara region 370$ Shredded- Bonus 390$

Last week, as the global markets continued to stagnate, Turkish rebar prices soared on the back of demand for scrap. However, the rapidly increasing transaction volume suddenly decreased. Market representatives predict that the upward trend in scrap prices may slow down and stabilize with the decrease in demand.

August the 16th, 2023 Spot rebar prices by region, as evaluated by www.steelradar.com, are as follows;

Istanbul rebar prices at 19,000 TL (0.00) / $586 (0.0)

Izmir rebar prices 18.850 TL (0,00) / 581$ (0,0)

Karabuk rebar prices 18.800 TL (0,00) / 579$ (0,0)

Payas rebar prices 18.800 TL (-50) / 579$ (-2)