Spot rebar prices in Türkiye increased in Karabük and Istanbul due to the exchange rate. As of July 16, spot rebar prices increased by 100 TRY/mt compared to Friday, July 12. With this increase, rebar spot prices were realized between TRY23,000-23,900/mt depending on the region and TRY588-611/mt ex-works.
İçdaş continues to keep its official dollar rebar price unchanged at $610/mt. Rebar prices in Izmir and Marmara regions vary between $585-605/mt ex-works.
On the export side, Türkiye's rebar offer prices are flat at $575-585 FOB. Turkish long steel producers are resisting discounts despite the stability in scrap prices. Rebar prices have remained steady at $580-590/ton FOB, while wire rod prices for wire mesh grades continue to hover around $590-600/ton FOB. Some rebar sales were realized at $575-580/ton FOB early last week, but producers are resisting offers below $580/ton due to scrap costs.
Trading activity in Türkiye's import scrap market has been sluggish. Steel mills are not in a hurry to make additional purchases and the end steel trade remains weak, which has a negative impact on scrap demand. Collectors, on the other hand, are keeping their target prices stable due to limited material availability.
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