By Cem Turken – Thursday 03 March
On the heels of the crisis in Ukraine, which has pushed up raw material and steel prices throughout the Black Sea region, Turkish prices for steel rebar and wire rod have risen dramatically, market participants told Fastmarkets on Thursday March 3.
Since last week, the country’s steel producers have been raising their domestic rebar and wire rod offers on an almost-daily basis.
Kardemir, a long steel mill located in Karabük, opened its domestic rebar sales book on March 3. Its 12-32mm rebar was priced at 13,659 Turkish lira ($971) per tonne ex-works, including 18% VAT.
Market sources said that the mill sold at least 59,600 tonnes of rebar on the same day.
Long steel mill Koç Çelik, in the Iskenderun region, raised its rebar offer to 15,250-15,500 lira per tonne for local customers, while Yesilyurt, in northern Turkey, closed its rebar offer at 15,000 lira per tonne until April 25, Fastmarkets was told.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 13,600-15,250 lira ($967-1,084) per tonne on March 3, up from the 11,800-12,400 lira per tonne of last week.
Domestic wire rod offers from Turkish steel mills have also increased.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, exw Turkey, was 14,400-15,650 lira per tonne on March 3, up from the 13,200-14,000 lira per tonne of last week.