Rebar prices in Turkey on a downward trend

Turkiye's steel industry is experiencing difficulties in the face of shrinking sales in the local and export markets, as well as economic difficulties, and is likely to be adversely affected by the Israeli war. The escalation of the Palestinian-Israeli conflict and the fact that Israel accounts for almost a third of Turkiye's export market will have a negative impact on the sales of Turkish steel producers.

Although Turkish steel producers insistently try to keep their list sales prices in the range of $580-590, they pull their prices down to $560 depending on demand. The gap between list prices and real prices has widened by almost $30. Trader-based prices are trading below producer prices.

Spot rebar prices by region, as assessed by www.steelradar.com on 11 October 2023, are as follows;

Istanbul rebar prices 19,000 TL (-100)

Izmir rebar prices 18,800 TL (-100)

Karabuk rebar prices 18.900 TL (-200)

Payas rebar prices 19.400 TL (-100)