Today, August 21, Turkish domestic rebar spot prices have increased by TRY 100-200/mt ($1-5/mt) compared to Friday, August 18 amid ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 19,100-19,200/mt or $586-589/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 27.17.
Most Marmara-based and Izmir mills are still offering official rebar prices at $585-590/mt ex-works, including Icdas A.S. Sources report additional discounts, up to $10/mt, are applicable for serious buyers only, taking advantage of the depreciation of the Turkish lira against the US dollar. However, most buyers are refraining from new purchases and are monitoring the import scrap price trend and the Turkish Central Bank's interest rate decision due on Thursday, August 24.
Bastug Metallurgy has closed its rebar sales today. An Iskenderun-based mill closed its rebar sales after issuing its price at TRY 19,000/mt ($583/mt) ex-works today in the afternoon. In addition, a few re-rollers in the same region are currently offering rebar at TRY 19,100-19,400/mt ($586-595/mt) ex-warehouse.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
18.08.2023 |
18.08.2023 |
||||
Marmara |
8 mm |
607 |
19,800 |
+4 |
+200 |
Marmara |
12 mm |
589 |
19,200 |
+5 |
+200 |
Iskenderun |
8 mm |
607 |
19,800 |
+4 |
+200 |
Iskenderun |
10 mm |
601 |
19,600 |
+4 |
+200 |
Iskenderun |
12 mm |
589 |
19,200 |
+5 |
+200 |
Izmir |
8 mm |
604 |
19,700 |
+1 |
+100 |
Izmir |
10 mm |
598 |
19,500 |
+1 |
+100 |
Izmir |
12 mm |
586 |
19,100 |
+2 |
+100 |
Karabuk |
8 mm |
604 |
19,700 |
+4 |
+200 |
Karabuk |
12 mm |
586 |
19,100 |
+5 |
+200 |
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 27.17