Türkiye's rebar market gained momentum in the last week of September as domestic demand remained strong. Prices varied regionally across the country, with rebar prices increasing to $605/mt in Izmir. In the Marmara Region, on the other hand, prices remained stable around $620/mt ex-mill. Although İçdaş, in particular, increased its official prices to $620/mt, some buyers were able to get it at $610/mt.
According to www.steelradar.com, rebar prices in Istanbul were set at TRY25,300, while prices in Izmir and Karabük remained stable at TRY24,850 and TRY25,400, respectively. In Payas, on the other hand, prices stood at TRY26,100.
Better trading activity across the market and higher production costs played an important role in stabilizing prices. Long-time loss-making producers found the opportunity to improve their margins during this period. In addition, material shortages were effective in boosting demand. Although an upward trend was also observed on the export side, demand abroad has not yet reached the expected level. Rebar export offers for October shipments from Türkiye increased to $590-600/mt FOB. The main reason behind this increase is the rise in production costs.
Türkiye spot rebar prices by region, as assessed by www.steelradar.com on September 30, 2024;
Istanbul rebar prices 25.300 TL (0.00) $617
Izmir rebar prices 24.850 TL (+150) $606
Karabuk rebar prices 25.400 TL (-100) $619
Payas rebar prices 26.100 (+700) $636
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