Over the past week, Turkish domestic official merchant bar prices have fallen by TRY 350-430/mt amid the ongoing depreciation of the Turkish lira against the US dollar and given the unclear financial situation in the country. Merchant bar re-rollers in the Izmir and Denizli regions are not quoting any price for now, and merchant bar prices in these regions are expected to gain clarity in the short term. Turkish merchant bar producers have continued to quote Turkish lira-based prices instead of prices on US dollar basis. One Iskenderun-based mill issued its official merchant bar price at TRY 13,800/mt, excluding VAT, ($690/mt) ex-works yesterday afternoon. No fresh list price has been heard today.
Most merchant bar sellers are offering for June delivery and only limited tonnages are available from stocks. A few re-rollers are also offering their HEA/HEB (100-200 mm, standard) at TRY 17,500/mt, excluding VAT, ($875/mt) ex-works, falling by TRY 200/mt but up $10/mt on US dollar basis over the past week.
Most local buyers evalutate the exchange rate as $1 = TRY 20.00, although the Turkish Central Bank’s exchange rate stands at $1 = TRY 19.93 today.
Most market players prefer to wait and see before destocking material and are purchasing only in line with their daily needs for now.
Equal Angle Prices:
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
Denizli Region (30-100 mm) |
N/A |
N/A |
N/A |
N/A |
Karabuk Region (30-100mm) |
13,800-14,200 |
690-710 |
-430 |
-13 |
Iskenderun Region (30-100 mm) |
13,800-14,000 |
690-700 |
-350 |
-9 |
Izmir Region (30-100 mm) |
N/A |
N/A |
N/A |
N/A |
Flat Bar Prices:
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
Denizli Region (30-100 mm) |
N/A |
N/A |
N/A |
N/A |
Karabuk Region (30-100mm) |
13,840-14,240 |
692-712 |
-430 |
-13 |
Iskenderun Region (30-100 mm) |
13,840-14,040 |
692-702 |
-350 |
-9 |
Izmir Region (30-100 mm) |
N/A |
N/A |
N/A |
N/A |
NPI-NPU Prices:
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
Denizli Region (30-100 mm) |
N/A |
N/A |
N/A |
N/A |
Karabuk Region (30-100 mm) |
13,800-14,200 |
690-710 |
-430 |
-13 |
Iskenderun Region (30-100 mm) |
13,800-14,000 |
690-700 |
-350 |
-9 |
Izmir Region (30-50 mm) |
N/A |
N/A |
N/A |
N/A |
The above prices exclude 18 percent vat, are on ex-works basis and for cash payment. Price changes in the tables above are calculated as compared to Wednesday, May 17.
$1 = TRY 20.00