Turkish rebar prices rise further, supported by scrap and billet prices

By Anil Mathews (ScrapMonster Author)

March 08, 2016 06:58:59 AM

ANKARA (Scrap Monster): The domestic rebar offer prices increased further in Turkey, on the back of increased demand. The offer prices were in the range of USD 360-370 per ton EXW. The recent rise in scrap and billet prices has also contributed to the rise in domestic rebars prices. Correspondingly, rebar export prices too increased to USD 340-355 FOB per ton. However, market participants expect prices to soon witness correction.

Meantime, rebar demand remained stable in Saudi Arabia, on hopes of increased construction activities. The offer prices of Hadeed stood flat at USD 480 per ton delivered Riyadh. The offers by other manufacturers were in the range from USD 450 to USD 465 per ton delivered.

The UAE domestic rebar price offers were in the range USD 370-USD 381 per ton EXW TW. The domestic rebar offers in Egypt increased to USD 555-575 per ton EXW, without VAT. The new regulations with respect to export of goods to Egyptian market and growing optimism over execution of various government projects led to rise in prices.

However, slowdown in construction activity and increased imports of Chinese rebar has badly impacted domestic rebar makers in Pakistan. Local rebar prices ranged between USD 610 per ton and 640 per ton EXW.