Turkish domestic rebar spot prices follow diverse trends

Today, November 20, Turkish domestic rebar spot prices have risen by TRY 200/mt ($4-5/mt) in the Izmir and Karabuk regions compared to Thursday, November 16, amid ongoing currency fluctuations and higher import scrap and billet prices. In addition, rebar spot prices in the Marmara and Iskenderun regions have remained unchanged in the local currrency with minor changes on US dollar basis. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 19,900-20,400/mt or $577-591/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 28.76. 

Icdas has kept its official dollar-based rebar price unchanged at $580/mt ex-works today. Most Izmir and Marmara-based mills are offering official rebar prices at $580-600/mt ex-works today, rising by $5/mt on the higher end over the same period. One Izmir-based mill has issued its rebar price at $580/mt ex-works, while a sale of a small tonnage of rebar has been rumored at $577/mt ex-works in this region. However, the final tonnage has not been confirmed by the time of publication. 

One Iskenderun-based mill has issued its rebar price at TRY 20,400/mt ($591/mt) ex-works today. Most local buyers are taking their time before concluding new purchases, ahead of the Turkish Central Bank's interest rate decision on Thursday, November 23. 

As of today, rebar offers in the Turkish spot market are as follows: 

All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 20 percent VAT, while prices on US dollar basis exclude VAT. 

$1 = TRY 28.76