Turkish long steelmaker Icdas has increased its rebar offer prices for the domestic market by TRY 30/tonne over the previous week, in line with the rise in scrap import prices, Kallanish notes.

The company’s 8-mm, 10-mm, and 12-32mm diameter rebar are currently offered at TRY 1,270/tonne ($431/t), TRY 1,260/t, TRY 1,250/t respectively. The move follows another increase by TRY 20/t last week and a hike by TRY 40/t earlier in February. All prices are ex-works and include 18% VAT.

Local peer Kardemir has been maintaining its domestic rebar prices at TRY 1,017/t for 12-32mm rebar and TRY 1,034/t for 12-22mm round bar since the middle of January.

Scrap import prices in Turkey increased by at least $10/t last week to $190/t cfr Turkey for HMS 1&2 80:20 following another rise by $5-10/t a weak earlier. Turkish export rebar quotations rose accordingly to $330-340/t fob from $320-323/t fob, same base. Local market players, however, consider that this upwards trend in prices is not sustainable.