[SMM Türkiye Weekly Review] Longs Drive "Price-Volume Double Play"; Low Stocks and Cost Floor Anchor Strong Posture

Published: Aug 28, 2026 13:52

Save

Türkiye was undoubtedly the strongest performing market globally this week, as the "cost-push" logic fundamentally transformed into a "price-volume double play." On the long steel front, domestic rebar ex-factory prices surged by approximately 13USD/tonne over two weeks to 592 USD/tonne EXW (excl. VAT). Spot trading was exceptionally hot—within an hour of Kardemir posting its new offer of 595 USD/tonne EXW, approximately 35,000 tonnes of rebar were snapped up, while 120,000 tonnes of billet (at 535 USD/tonne EXW) sold out in minutes. Offers from major Marmara mills pushed higher to 610–615 USD/tonne EXW, while Izmir and Iskenderun stabilized at 587–590 USD/tonne EXW. With imported scrap holding steady at 375 USD/tonne CFR, spot margins for major mills expanded noticeably; however, buyers have begun showing resistance to further price hikes, refraining from aggressive restocking. The export market fired synchronously: rebar export quotes held firm at 590–595 USD/tonne FOB, wire rod strengthened to 600–605 USD/tonne FOB, and flat steel followed suit, with HRC export offers moving up to 580 USD/tonne FOB. H1 customs data confirmed a structural redrawing of Türkiye's export map: rebar exports to the EU plummeted by 28.4%, but volumes to MENA and Latin America surged; HRC's EU market share fell off a cliff in June, dropping from nearly 80% to 54.7%. Looking ahead to next week, the market is expected to maintain its strong posture, anchored by critically low inventories and a solid cost floor, though further upside depends on whether scrap prices can follow suit.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

26 mins ago

[SMM Malaysia Weekly Review] Malaysian HRC Prices Rise W-o-W, Rebar and Wire Rod Prices Decline

Malaysia’s flat and long steel prices moved in opposite directions this week. A major domestic mill’s offer for S275JR HRC rose by MYR 20/tonne ($5/tonne) week on week to around MYR 2,130/tonne ($528/tonne) EXW. Meanwhile, market transaction prices for 16mm and 20mm B500B rebar fell by MYR 40/tonne ($10/tonne) week on week to around MYR 2,180/tonne ($540/tonne) EXW. Domestic wire rod prices were also reported at around MYR 2,180/tonne ($540/tonne) EXW, broadly in line with rebar prices. Overall trading activity remained cautious, with downstream buyers mainly purchasing on an as-needed basis.

26 mins ago

29 mins ago

Bayuquan Q4 Aluminum Bauxite Tender Announcement

29 mins ago

1 hour ago

[SMM Steel] India's TPREL Commissions 72.5 MW Solar Project for Tata Steel

[India]Tata Power Renewable Energy Ltd (TPREL) has commissioned a 72.5megawatt (MW) captive solar project at Kalasar, Bikaner, Rajasthan, developed for Tata Steel Ltd. The project is expected to generate around 166million units of green energy annually. The project will help reduce carbon emissions and uses 171,360 modules from TP Solar Ltd. supporting Tata Steel’s decarbonization efforts. The project uses 171,360 solar modules manufactured by TP Solar Ltd. TPREL’s total renewable utility capacity has reached 12.3 gigawatt (GW), including around 7 gigawatt (GW) of operational capacity and 5.3 gigawatt (GW) under implementation. The project supports India’s target of achieving 500 GW of non-fossil fuel capacity by 2030 and Tata Power’s vision of a sustainable energy future.

1 hour ago