Today, November 23, Turkish domestic rebar spot prices have risen by only TRY 100/mt ($2-3/mt) compared to Monday, November 20, against the backdrop of the ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 20,000-20,500/mt or $579-594/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 28.77.
Icdas has kept its official dollar-based rebar price unchanged at $580/mt ex-works today. Most Izmir and Marmara-based mills are still offering official rebar prices at $580-600/mt ex-works. One Izmir-based mill has today issued its rebar price at TRY 20,500/mt ($594/mt) ex-works.
One Iskenderun-based mill has closed its rebar sales today. In addition, a few re-rollers in this region are offering rebar at TRY 20,400-20,600/mt ($591-597/mt) ex-warehouse, SteelOrbis has heard. The Turkish Central Bank has raised its interest rates from 35 percent to 40 percent today. However, the general sentiment on the demand side is still negative.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
20.11.2023 |
20.11.2023 |
||||
Marmara |
8 mm |
620 |
21,400 |
+3 |
+100 |
Marmara |
12 mm |
591 |
20,400 |
+3 |
+100 |
Iskenderun |
8 mm |
623 |
21,500 |
+3 |
+100 |
Iskenderun |
10 mm |
617 |
21,300 |
+3 |
+100 |
Iskenderun |
12 mm |
594 |
20,500 |
+3 |
+100 |
Izmir |
8 mm |
608 |
21,000 |
+2 |
+100 |
Izmir |
10 mm |
602 |
20,800 |
+2 |
+100 |
Izmir |
12 mm |
579 |
20,000 |
+2 |
+100 |
Karabuk |
8 mm |
623 |
21,500 |
+3 |
+100 |
Karabuk |
12 mm |
594 |
20,500 |
+3 |
+100 |
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 28.77