While the Turkish domestic market was trying to recover for rebar, it was not accepted in the market

Prices are expected to increase after the holiday

According to SteelRadar's report, in early April, the situation in the global longs market looked unfavorable for mills. The expected recovery in the first half of April did not materialize as the momentum in scrap prices gave way to a decrease. In the great earthquake disaster in Turkey, while the debris was removed, the restoration work did not gain momentum and the lack of official statements caused the silence in the market to continue. Demand for rebar was low in almost every country. According to the new expectations, market experts say that there may be an explosion in demand after the holiday. The reason for this is interpreted as 'to show that the government has kept its promises to its voters by accelerating its activities before the election to be held on May 14'.

Some market sources argue that the election must be concluded for the market to gain momentum.

While all this was being talked about, what happened in the first half of April? The prices of the big producer İÇDAŞ A.Ş in Turkey were as follows;

İÇDAŞ rebar prices;

On April 4, 2023, the rebar prices announced by the factory were $720 for Biga (12-32mm) and $735 for Istanbul (12-32mm). The factory, whose prices are flat until April 7, revised its prices on Monday, April 10, 2023. After the factory announced that it will announce its rebar prices in the afternoon, it decreased by $20 to $700 for Biga (12-32mm) and $715 for Istanbul (12-32mm). According to the statement made by the representatives of the market to SteelRadar, it was said that İÇDAŞ could make -10$ from the list price.

Icdas rebar prices are flat today. The factory, which did not make any changes in prices, continued its horizontal course in dollar terms, and increased in TL over the exchange rate.

Turkish rebar prices increased in futures exchanges

Turkish rebar prices increased in LME (London Metal Exchange), one of the futures exchanges. Although there has been a decrease in the general picture since March, prices have increased compared to the second week of April.

Turkey 1-Month Futures – FOB / $680 with +6.00 (0.88%) value increase. It hit $674 this month.

Turkey 2-Month Futures – FOB/ $675 with an increase of +10.00 (1.48%). The lowest level  in April was $665.

Turkey 3-Month Futures – FOB/ +12.50 (1.85%) to $678. The lowest level during the month was $665.