Spot rebar prices in Türkiye have been increasing between 100-200 TL/mt in Turkish lira terms, with small changes in US dollar terms. Factories are struggling to maintain the strength of prices, while production and diameter diversification are also facing problems. This situation indicates that spot rebar prices have started to hover in the range of TL 22,700-23,900/mt ex-works.
While İçdaş has kept its official rebar price in USD terms unchanged at 620usd/ton ex-works, market reports suggest that the factory's bottom price is at 590usd/ton. A producer in Iskenderun started the week of June 4 flat at TRY23,500. A producer in Izmir, on the other hand, set their prices at $590.
There has been a significant calmness in the market recently due to the interest rate environment. In both domestic and foreign markets, there is a tendency to focus on immediate needs instead of bulk deals. Government policies are also shaped in this direction.
Especially considering the difficult interest rate environment, this stagnation is expected to continue in the short and medium term. Considering that export quotas have been filled, the expected mobility in the domestic market is also not realized. This has a negative impact on producers, and is challenging their business viability as their margins are shrinking.
There is a similar picture in the imported scrap market. Turkish steel producers do not expect a significant change in the market as they do not see a sufficient improvement in the final steel products. Therefore, no significant change is expected in scrap prices in the short term. The most recent scrap deal is valued at 373 USD.
Spot rebar prices by region as assessed by www.steelradar.com on June 4, 2024;
Istanbul rebar prices 23,400 TL (0.00)
Izmir rebar prices 22.800 TL (+100)
Karabuk rebar prices 23.200 TL (0,00)
Payas rebar prices 23,900 (+100)
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