Turkey's rebar trade prices rise, while sales stagnate

While uncertainty continues in global markets, election tension prevails in Turkey. With the dollar exchange rate rising above 20 today, producers raised prices by 300-360tl. However, the cautious behavior of buyers and weak demand did not meet expectations.

The Turkish steel industry expects interest rates to be lowered and investment incentives to increase after the election. If the expected support does not come, problems in the markets will become inevitable.

While some producers in Turkey did not want to sell due to uncertainty, the prices of the main factories that gave prices were announced as follows:

İçdaş/ Biga

Rebar 16.206tl / 809,58 USD

Plain Wire Rod 13.940tl (excluding vat) / 696,38 USD

Habaş

Rebar 15.730tl / 785,81 USD

Kroman

Rebar 

15.700tl / 784,31 USD

Diler

Rebar 16.300tl 7 814,07 USD

Local rebar prices in Turkey, which were at $655 in early May, rose sharply to $675-690 on May 12 ahead of the first round of elections. However, optimistic expectations were postponed when the elections went to a second round and prices started to fall again, falling to $635-645 within two weeks.

The traders, who could not melt their stocks with the falling prices, are acting more cautiously as they cannot predict the developments that will take place after the elections. As the expected demand did not materialize, increases were limited to the $660-665 range.

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

İstanbul rebar prices 15.700 TL (+300) / 665$ (+10)

İzmir rebar prices 15.600 TL (+350) / 661$ (+8)

Karabük rebar prices 15.600 TL (+300) / 661$ (+10)

Payas rebar prices 15.600 TL (+150) / 661$ (+4)