The downtrend in rebar prices observed some time ago is finally over: after the rates hit the bottom recently, the cost of iron started rising again.
It should be specified that plants were offering prices in the range of USD 600 – USD 620 VAT exclusive for a while. Now the rates are rising and have already reached USD 640 VAT exclusive or even more.
Everyone capable of doing so is creating raw material inventories in their warehouses as much as possible.
There are two more critical pieces of news on the agenda: Turkey signed two important export agreements on rebar sales to Hong Kong and the USA. Even though it proves a market rebound, the consequences for the domestic market could be far from beneficial.
As for the current prices for rebar, they are as follows, according to price lists of plants in major cities:
- Ankara: from TL 12,700, depending on thickness
- Istanbul, from TL 12,820
- Karabük, from TL 12,400
- Gebze, from TL 12,600
- İskenderun, from TL 12,700
- Izmir, from TL 13,200
- Tekirdağ, from TL 12,900
You might remember that the cost of construction in Turkey grew by 70% and more over the year.