Rebar prices in Türkiye started to increase in the first week of September on the back of improved market conditions and higher scrap prices. Prices varied regionally, with rebar prices in Izmir increasing by $5-10 to $585/mt. In the Marmara Region, prices remained stable at $595/mt ex-works. Although Icdas maintained its official price at $610/mt, buyers were reportedly selling at $600/mt.
In the Payas region, Habaş is eagerly awaited to enter the market. Industry players hope that this move will improve the supply-demand balance and ease the market. Especially with the increase in supply, there is an expectation that prices will become more stable.
There is also activity on the export side. Rebar offers for exports from Türkiye have increased from $570-575/t FOB last week to $580-590/t FOB for October shipments this week. Higher production costs are cited as the main reason for this increase. The recent sale of scrap from the US at $370/t has prompted producers to increase their prices further. Moreover, some rebar sales to Europe had a positive impact on the market. There are rumors that 10,000 tons of rebar was sold to Albania and around 15,000 tons to Lithuania at $575/mt FOB.
Türkiye spot rebar prices by region, as assessed by www.steelradar.com on September 9, 2024;
Istanbul rebar prices 24.200 TL (-100) $592
Izmir rebar prices 23.700 TL (+200) $580
Karabuk rebar prices 23.850 TL (+250) $590
Payas rebar prices 24.500 (+100) $600
$1 = 34 TL
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