The Turkish rebar market spent the first weeks of September under the shadow of weak demand and high production costs. Although the stronger-than-expected interest rate cut by the Central Bank of the Republic of Türkiye was closely monitored in the market, the decision has not yet had a short-term impact on rebar demand. The recent loss of momentum in price increase attempts points to a directionless outlook both in the domestic market and on the export side.
In Izmir, rebar prices remained stable at $530/ton, while in the Marmara region mill ex-works prices stood at around $550/ton. Although İçdaş announced its official price at $555/ton, actual purchases were reported to be concentrated at around $545/ton. In Iskenderun, producers’ list prices opened at 27,500 TRY/ton, but it was stated that bottom prices had retreated to as low as 26,700 TRY/ton.
Export activity also remained limited. Turkish rebar export prices were assessed at $535/ton FOB. Although offers at $540–545/ton FOB were heard in the market, workable levels were reported at $535/ton FOB. A producer source commented, “Most buyers think prices may soften further, which is why trading volumes remain very low.” Another exporter said, “It is difficult to hold prices under current conditions, the buyers are patient.”
A similar trend was observed in the wire rod market. Domestic mill ex-works prices ranged between 27,000–28,000 TRY/ton, while export offers stood at $565–575/ton FOB. However, limited buying interest has also reflected the general market stagnation on the wire rod segment. A market participant stated, “Wire rod prices are stuck in the same range. Without stronger demand, it will not be easy to hear new deals.”
Market players see the likelihood of a strong recovery in the short term as weak. A trader noted, “Although the interest rate cut seems psychologically positive, rebar demand will not increase unless new construction projects start,” while another participant commented, “Costs are high, demand is weak, under these circumstances it is difficult for prices to find a clear direction.”
In conclusion, the failure of demand to recover and the continuation of cost pressures have caused prices in the Turkish rebar market to remain directionless. In the coming weeks, buyers’ attitudes and new cost developments are seen as the main factors that will determine the direction of the market.
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