TURKEY LONG STEEL: Softer lira, firmer demand, higher scrap costs push up prices

Turkish domestic long steel prices have increased over the past week on further weakness of the country’s lira, rising scrap costs and improving demand that was itself triggered by the upturn in prices, sources said on Thursday February 20.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,150-3,190 lira ($518-525) per tonne on Thursday, up from the 3,000-3,040 lira per tonne of last week.

Domestic prices in the Izmir region were 3,170-3,210 lira per tonne ex-works over the past week, while the Istanbul region prices were 3,190-3,230 lira per tonne.


Cem Turken

February 20, 2020

14:58 GMT