Rebar prices in Türkiye continue to be under pressure from sluggish demand both domestically and globally. Turkish producers continue to postpone their scrap purchases as they do not see any improvement in rebar demand from local and export customers.
Local rebar prices have hovered around $580-610/ton EXW during the week, albeit with some regional variations. In the Izmir region, rebar prices were at $585/ton, while in the Marmara region, the price was $600/ton ex-works. Icdas has kept its official rebar price unchanged at $610/ton in USD terms, while buyers can buy at $600/ton.
Export rebar offers are also on a downward trend. Turkish rebar is being sold to foreign customers at $575-580/ton FOB for August-September shipments, down from $575-585/ton FOB a week ago.
There has been a noticeable 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 connections. 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.
When spot rebar prices are analyzed by region, it is seen that prices in Istanbul increased by 150 TL to 24,000 TL, while prices in Karabük region remained stable at 23,600 TL. In Izmir, rebar prices increased by 100 TRY to 23,300 TRY. In contrast, prices in the Payas region increased by 50 TRY to 24,400 TRY. These regional differences reveal that the dynamics of the rebar market are affected differently in each region and that price movements are shaped by regional demand and supply conditions.
Stagnant demand and fluctuating prices continue to create uncertainty in the construction sector.
Spot rebar prices by region, as assessed by www.steelradar.com on August 5, 2024;
Istanbul rebar prices 24,000 TL (+150) 600 USD (+5)
Izmir rebar prices 23.300 TL (+100) 582 USD (+3)
Karabuk rebar prices 23.600 TL (0,00) 590 USD
Payas rebar prices 24.400 (+50) 610 USD (+1,5)
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