Türkiye 80/20 import scrap prices rose by $5/ton to $353/ton last week. Turkish steel mills were aiming for lower scrap purchase prices but failed to achieve their target. On the contrary, after the $5/ton increase and the rise in the US dollar exchange rate, rebar prices have shown an average recovery trend of $5/ton today.
Istanbul producer Çolakoğlu Metalurji has started a one-week maintenance shutdown while producer rebar prices in the Marmara region opened for sale in the range of $565-570/ton.
In the Izmir region, some producer prices gradually increased from $540 to $550/ton on Friday. Current prices are trading at $550-555/ton.
In Iskenderun, there has been a lack of diversity in diameters following reduced capacities. The supply contraction indicates that prices need to recover. However, demand is still insufficient.
October 30, 2023 Spot rebar prices by region, as assessed by www.steelradar.com, are as follows;
Istanbul rebar prices 19,100 TL (+200) / 676,43 USD (+7,08)
Izmir rebar prices 18.600 TL (+100) / 658,72 USD (+3,54)
Karabuk rebar prices 18,900 TL (+100) / 669,34 USD (+3,54)
Payas rebar prices 18.900 TL (+100) / 669,34 USD (+3,54)
1 USD = 28,24 Turkish Lira
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