Rebar maintains profit margin against inflation

Rebar prices in Turkey decreased by $7-11.

After the biggest ever depreciation of the Turkish lira last week, rebar TL prices started the new week with decreases in Karabük and Payas regions.

Factories maintained their dollar-based sales prices in the range of $650-660, but the TL equivalent of the prices increased by 12% on average.

For example, while İçdaş A.Ş. was selling at $650 at the beginning of June, its TL-based price was equivalent to 16,100tl. Today, the same factory continues to sell at $650 but its TL-based price is trading at 18,150tl.

Buyers and sellers continue to act cautiously as uncertainty continues in the Turkish economy.

Current spot rebar prices evaluated by www.steelradar.com are as follows;

Istanbul rebar prices 18,200 TL (0.00) / $654 (-7)

Izmir rebar prices 18.100 TL (0,00) / 650$ (-8)

Karabuk rebar prices 17,900 TL (-100) / $654 (-11)

Payas rebar prices 17,900 TL (-100) / $654 (-11)

Rebar maintains its profit against inflation

Turkish rebar prices are maintaining their profit margins in the face of rising inflation.

Despite a $9 increase in scrap prices and a $30 increase in billet prices since the beginning of the month, insecurity continues to dominate the markets. In the iron and steel market, scrap conversion cost is calculated at $250, while billet conversion cost is calculated at $60-80. Accordingly, rebar, which costs $630 in exports and $650-660 in the local market, maintains its profit margin.