Steel market continues to decline

Global steel market continues to weaken. Although steel prices are on the rise on the back of strong credit data in China, concerns remain.

The direction of the increases experienced two days ago in the Türkiye domestic scrap market has been turned down. Decreasing iron prices are putting pressure on scrap and billet prices.

Demand has stalled after steelmakers' latest export sales at $580. While most of the factories are taking a maintenance break, the ones that continue are reducing the capacity.

Although the list prices are announced between 17.850-18,000 TL in spot rebar prices in Türkiye, price offers are offered up to 17.500 TL according to the demand.

Rebar prices according to regions, evaluated by www.steelradar.com, are as follows;

Istanbul rebar prices 18.000 TL (-300) / 583$ (-11)

Izmir rebar prices 17.900 TL (-200) / 580$ (-8) 

Karabuk rebar prices 17.900 TL (-300) / 580$ (-11)

Payas rebar prices 17.850 TL (-150) / 578$ (-6)