Following the start of post-earthquake reconstruction work in Turkey since late February and the strengthening of imported scrap prices, Turkish rebar prices have continued to rise, but the upward trend has slowed down in recent days.
In the domestic market,steel mills in Marmara, Izmir and Iskenderun sell rebar at around US$755-775/ton EXW, and demand has slowed down. In terms of the export market, it was heard this week that steel mills quoted prices ranging from US$760-800/ton FOB, and export transactions remained light. Due to post-disaster construction needs, Turkish Steel mills are currently mainly focusing on domestic sales.
On March 7, the Turkish government and Steel mills held a meeting, announcing that a committee would be established to make decisions on rebar price control and raw material and energy cost measurement. A meeting will be arranged for further discussion. According to mill sources, demand has slowed down as the market is waiting for the outcome of the meeting to give direction.
Post time: Mar-09-2023