The Turkish rebar market is going through a quiet period as we enter the middle of October. Following last week's price increases, the market activity has stalled this week. Especially the unrealized expectations from China did not provide the desired revival in the markets.
While rebar and wire rod prices are expected to decrease, some market players expect this slowdown to continue. Prices across the country continue to show regional differences. Rebar prices in Izmir were around $630/ton, while prices in the Marmara Region remained stable at around $650/ton ex-mill. While Icdas raised its official prices to $630/ton, some buyers were able to obtain the products at $620/ton.
According to SteelRadar data, rebar prices remained stable at around TRY26,600 in Istanbul, while prices in Izmir and Karabük were unchanged at TRY25,900 and TRY26,400, respectively. In Payas, on the other hand, prices dropped to TRY26,800.
In the export market, demand remains weak in foreign markets despite higher domestic and scrap prices. A market source said, “I don't expect a rebound in exports at the moment, but I think European cargoes will be sold in November.” According to SteelRadar's assessments, rebar export prices from Türkiye are trading around $600-610/ton FOB.
The calm course of the market and the lack of Chinese influence create uncertainty about how rebar prices will be shaped in the coming period. Demand from the European market towards November may play a critical role in determining export prices.
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