Türkiye's long steel producers were forced to cut rebar prices for local and export markets due to the decrease in imported scrap prices. However, demand remained stagnant despite these price cuts.
Rebar prices varied regionally across the country. Rebar prices, which are generally traded in the $580-600/mt EXW band, remained stable at $575/mt in Izmir. In the Marmara Region, prices were set at $590/mt ex-works. While İçdaş kept its official dollar-based rebar price unchanged at $610/mt, buyers were able to buy at $600/mt.
The export market followed a similar trend. Prices for September shipments were stable at $570-575/ton FOB, down by around $5/ton.
Overall market activity continues to slow down amid weak demand both at home and abroad. Market players find it difficult to see the way ahead, especially due to rising energy costs and global economic uncertainties. In the coming period, if these unfavorable conditions persist, new fluctuations in rebar prices are likely. In order to survive in this challenging period, manufacturers will continue to optimize their costs and search for new markets.
Spot rebar prices by region, as assessed by www.steelradar.com on August 27, 2024;
Istanbul rebar prices 24,000 TL (0.00) $588
Izmir rebar prices 23.400 TL (+100) $573
Karabuk rebar prices 23.500 TL (0,00) $575
Payas rebar prices 24.300 (0,00) $595
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