Throughout the week, cost-driven price increases came to the forefront in the Turkish long steel market, while weak demand largely persisted. Rising scrap prices supported producers in revising their prices upward, whereas purchases in the domestic market were mainly limited to needs-based buying. On the export side, new orders continued to remain limited due to weak demand in the European market and trade restrictions. Although Kardemir's successful sales indicated that buyer interest at current price levels has not disappeared entirely, it did not yet signal a clear recovery in the overall market outlook.
Rebar
Rebar prices moved upward during the week, while trading activity remained limited. Rising scrap prices and higher production costs led producers to revise their prices upward. However, due to high financing costs and weak end-user demand, purchases continued to be made mainly on a needs basis.
One of the most significant developments of the week was Kardemir's sales. The producer sold approximately 32,000 mt of deformed rebar at an ex-works price of USD 578/mt. Supported by favorable payment terms, the sale was completed within a short period, demonstrating that buyer interest in the domestic market has not completely disappeared at current price levels. While this development was considered an important signal supporting producers' higher price targets, it did not yet indicate a significant recovery in overall demand.
In the domestic spot market, prices moved upward throughout the week. Rebar prices for 12-32 mm increased from TRY 32,900/mt to TRY 33,000/mt in Istanbul, from TRY 32,200/mt to TRY 32,400/mt in Izmir, and from TRY 32,200/mt to TRY 32,600/mt in Payas, while prices in Karabük remained stable at TRY 33,500/mt. In US dollar terms, Istanbul increased from USD 581/mt to USD 583/mt, Izmir rose from USD 569/mt to USD 572/mt, while Karabük finished the week at USD 591/mt and Payas at USD 576/mt.
On the producer side, official offers increased to USD 580-590/mt EXW in the Marmara region, USD 570-580/mt EXW in the Izmir region, and around USD 580/mt EXW in the Iskenderun region. The workable price range across the regions was assessed at USD 570-585/mt EXW. However, export demand remained weak due to the European Union's quota system and additional customs duties. Turkish producers maintained their export offers at USD 565-575/mt FOB, while some producers began testing USD 580/mt FOB. Nevertheless, under current market conditions, concluding transactions at these levels remains difficult.
Overall, although cost pressures supported prices throughout the week, no significant improvement was observed in either domestic or export demand. In the coming period, scrap price trends, production costs, and any potential recovery in export orders will continue to determine the direction of the rebar market.
Billet
Expectations strengthened in the billet market, while the price balance between buyers and sellers began to reshape. The upward trend in the scrap market supported producers in maintaining current price levels, while resistance to imported billet offers weakened compared to previous weeks. Nevertheless, limited-volume purchases remained more prominent than large-scale transactions.
In the import market, Russian-origin billet prices increased to USD 465-470/mt FOB Black Sea, while offers to Türkiye were heard at USD 490-495/mt CFR. These levels, which buyers considered too high last week, have started to be viewed as more workable by the market following the increase in scrap prices.
In the domestic market, rolling mills continued to act cautiously in their billet purchases by closely monitoring activity in finished steel sales. Producers refrained from offering discounts due to cost pressures and instead focused on maintaining current price levels. While this contributed to price stability in the market, it also kept trading volumes low.
Overall, downward pressure on billet prices weakened, although a strong recovery in demand has yet to emerge. Going forward, the direction of imported offers and developments in the scrap market will continue to be the key factors determining billet prices.
Wire rod
In the wire rod market, producers revised their offers upward by reflecting cost pressures in their prices, while weak demand persisted. Rising scrap prices and increasing production costs supported producers' pricing policies, although trading activity remained limited in both the domestic and export markets.
In the domestic market, wire rod prices increased to USD 580-590/mt EXW during the week. Due to the slowdown in the manufacturing industry and high financing costs, wire drawing companies, welded wire mesh producers, and fastener manufacturers continued to make purchases only on a needs basis.
On the export side, offer levels remained at USD 575-585/mt FOB, while some producers started offering at USD 590/mt FOB. However, due to weak demand in the European market, EU trade restrictions, and intense international competition, new sales at these levels remained limited. Therefore, producers continued to focus on the Balkans and nearby non-EU markets.
Overall, cost-driven price increases dominated the wire rod market, while weak demand prevented the formation of sufficient trading volumes to support further price increases. In the coming period, scrap price trends, production costs, and demand in export markets will continue to determine the direction of wire rod prices.
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