International Steel City Daily: Türkiye’s Rebar Prices Continue To Rise, And The Production Monitoring System Is Delayed

Recently, the price of rebar in Türkiye has shown an upward trend, and the domestic sales volume has increased significantly. Some products have also been exported to Yemen. In Izmir, Türkiye, the sales price of rebar is 610-615 dollars/ton EXW, and the export quotation of some steel mills is 630 dollars/ton FOB.
After the earthquake on February 6, 2023, the General Administration of Mint and Printing of Türkiye proposed and implemented a monitoring system to ensure that the production, testing and use of rebar comply with the safety standards of construction and taxation. According to the initial regulations of the system, both manufacturers and importers of rebar were required to attach safety labels to their products. Without safety labels, manufacturers and importers of rebar are not allowed to sell their inventory after January 1, 2024, and for others, including traders, the deadline is January 31. The implementation of the new system was originally scheduled for January 1, 2024, but was later postponed to April 31, causing traders to engage in aggressive sales at the end of December last year. Currently, they are facing inventory shortages and have to restock, thereby driving up the prices of rebar in both domestic and export markets.
In the face of the rising export price of rebar in Türkiye, buyers think that the price is too high and hold a wait-and-see attitude. At present, no export transaction has been heard.