Turkish steel markets in search of balance

Turkish steel markets are in search of balance. The rise in scrap prices had pushed up finished product prices. While scrap costs increased the demand for billet, it caused an increase in billet prices. Russian billet prices delivered to Türkiye were heard at $550/ton today.

While prices are expected to get stronger with the increase in costs, the stagnation in demand is pulling the market down.

Spot rebar prices by region, evaluated by www.steelradar.com on December 15, 2023, are as follows;

Istanbul rebar prices 21.600 TL (0.00)

Izmir rebar prices 21.200 TL (0.00)

Karabük rebar prices 21.500 TL (-100)

Payas rebar prices 21,500 (0,00)