Where are iron prices going?

This news has been prepared based on Istanbul region iron prices and Icdas Istanbul iron prices.

In February 2021, Istanbul region rebar prices were 5000 TL, while İçdaş Istanbul iron prices were announced as 5020. It is expected that the prices, which have increased by approximately 2000 TL since February 1, will stop. The prices announced in the 7020-7220 TL band on August 2, were announced as 6930 TL in Istanbul iron prices on 13 August 2021 and 7180 TL in İçdaş iron prices.

ISTANBUL REGION REINFORCEMENT PRICES (Based on 6 months)

So what about iron prices?

According to the information obtained from market analysts and producers, the following possibilities are as follows;

Turkey's steel exporter aims to fill the gap with the developments on China's removal of tax refund support for exports and policies to reduce air pollution. If the restrictions in China progress as planned, new markets will emerge for Turkey. In addition, the USA will go to import since it will not be able to meet the demand in the domestic market with the approval of the infrastructure work of 1 trillion dollars. These developments indicate that Turkish producers will tend to recover their prices in the domestic market rapidly in order to accelerate exports.

Will iron prices fall?

According to the second scenario, iron ore prices in the world continue to decline rapidly. In addition, if scrap prices continue to decline, a decrease in rebar prices will be inevitable. One of the most important points in this scenario is the scrap supply and demand balance.