Turkish domestic rebar spot prices increase further

Today, November 9, Turkish domestic rebar spot prices have increased by TRY 200-500/mt ($4-14/mt), amid ongoing currency fluctuations and the positive sentiment in the import scrap segment, as compared to Monday, November 6. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 19,500-20,100/mt or $570-588/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 28.51.  

Icdas has kept its official dollar-based rebar price at $575/mt ex-works today. Most Izmir and Marmara-based mills are offering official rebar prices at $570-585/mt ex-works, versus $565-580/mt ex-works at the beginning of this week. 

One Iskenderun-based mill has issued its rebar price at TRY 20,200/mt ($590/mt) ex-works, while Bastug Metallurgy is also offering rebar at the same price. "The rebar prices in the Iskenderun region are relatively higher than in the rest of the country due to the lack of supply and a few inquiries from the urban transformation projects," one source commented. 

It is worth mentioning some Turkish mills have also set their conversion cost to TRY 800/mt ($20/mt) and TRY 1,000/mt ($25/mt) for 10 mm and 8 mm respectively. In addition, one Marmara-based mill has recently set its special length, 36 mm and 40 mm rebar conversion costs at TRY 800/mt ($20/mt), while the conversion cost for B500B and B500C stands at TRY 600/mt ($15/mt). 

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 28.51