Increased import scrap purchases by Turkish steel mills suggest that these levels may be the lowest level in the scrap market. However, expectations for rebar in global markets are still weak.
Although Turkish steelmakers have been increasing prices in the local market due to the uncertain economy, they have been offering prices up to $620 per tonne in exports due to weak demand.
In the local market, İçdaş A.Ş. revised its rebar price to $670 with a price increase of $5. Istanbul producer-based prices were announced at $665, while one of the Izmir factories reported a price of $660. In Payas region, many factories refrained from giving prices. The prices varied between $665-670.
Spot rebar prices evaluated by www.steelradar.com are as follows;
Istanbul rebar prices 15,400 TL (+100) / USD 787,01 (+5,11)
Izmir rebar prices 15.300 TL (+300) / USD 781,90 (+15,33)
Karabuk rebar prices 15.300 TL (+100) / USD 781,90 (+5,11)
Payas rebar prices 15.450 TL (+250) / USD 789,56 (+12,78)
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