Turkey's Kardemir has raised its domestic long steel prices as the lira has weakened further against the US dollar while scrap import prices flatten on a lack of new bookings, Kallanish notes.

The integrated long steelmaker's 12-32mm diameter rebar and 12-18mm dia round bar prices have each increased by TRY 35/tonne to TRY 1,560/t ($434/t) and TRY 1,577/t respectively, as of 3 January. The move follows a rise by another TRY 35/t on 20 December.  

Kardemir's wire rod prices have also increased by TRY 20/t to TRY 1,605-1,635/t.

The steelmaker's billet sales are still closed.

Prices of equal angles and profiles stay unchanged at TRY 1,675-1,985/t and TRY 1,550-1,805/t respectively.

Bloom has remained at TRY 1,725/t and pig iron in the TRY 1,065-1,275/t range, depending on grade. All of Kardemir's prices are ex-works and exclude VAT.

The lira has depreciated to a new low against the dollar, reaching 3.6 per dollar as of 3 January. Analysts attribute this loss in value to the higher-than-expected inflation data for December, supported by security issues due to the New Year's Eve shooting in Istanbul and other terror attacks in the last months. 

Turkish scrap import activity, meanwhile, is still stagnant after the last deals made before Christmas drove import scrap prices up by some $20/t. Mills are anticipated to resume scrap bookings in the second week of January, according to sources. In its latest price assessment Kallanish puts the HMS 1&2 80:20 scrap price at $290-295/t cfr Turkey.