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Rebar falls further in Turkey on slow demand, lira rise
이름 : sbb 등록일 : 2017-04-25 15:06:25
Some Turkish mills and stockists cut their rebar and wire rod list prices further on Monday, amid ongoing slow demand in both the domestic and export markets, and the gradual appreciation of the lira against the dollar in recent days. The Turkish lira gained around 2% against the dollar week-on-week on Monday and was trading in the range of TRY 3.59-3.60/$1 at noon on April 24.

Marmara-based producer Icdas reopened its order book Monday with lower prices. Its 12-32mm diameter rebar list prices decreased by TRY 30($8)/mt to TRY 1,900/mt ex-works for Istanbul and TRY 1,880/mt EXW for Biga, Canakkale. These prices include 18% VAT and are equivalent to $447/mt and $442/mt respectively excluding VAT. However, these price levels are approximately flat week on week, taking into account the appreciation of the lira since last week.

Icdas pulled down its price for 10mm diameter rebar by the same amount to TRY 1,910/mt EXW Monday, while 8mm rebar was lowered to TRY 1,920/mt EXW for Istanbul. The company's 7-8.5mm diameter wire rod list price also fell by the same amount to TRY 2,060-2,090/mt EXW (including VAT) as of April 24.

Another large producer, Bastug Metalurji, based in Osmaniye, southern Turkey, also decreased its rebar prices on Monday by the same amount, the company informed S&P Global Platts. With this price cut, its list price for 12-32mm diameter rebar has fallen to TRY 1,880/mt EXW. Its price for 10mm rebar came down to TRY 1,890/mt EXW, while 8mm diameter rebar fell to TRY 1,900/mt EXW including VAT.

Some other Turkish mills also pulled down their domestic list prices by around $10/mt on Monday, while stockists also lowered their rebar offers to the domestic market further Monday, following the mills' price cuts. Ex-stock prices for 12-32mm diameter rebar in the Marmara region decreased to TRY 1,900-1,920/mt (including 18% VAT) Monday, while stockists' prices in other regions of Turkey were much lower, trade sources said.
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