Today, June 19, Turkish domestic rebar spot prices have decreased by TRY 300-550/mt ($9-18/mt), compared to Thursday, June 15, amid sluggish demand, credit payments, and the ongoing currency fluctuations ahead of the Turkish Central Bank’s interest rate decision due on Thursday, June 22. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 17,200-17,400/mt or $618-625/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 23.60.
Icdas A.S. has cut its official dollar-based rebar price by $10/mt to $640/mt ex-works today. Sources report that a few Marmara-based mills have been offering official rebar prices at TRY 18,000/mt ($645/mt), falling by TRY 250/mt ($8/mt) over the same period. An Izmir-based mill is offering rebar at $640/mt ex-works today.
One Iskenderun-based mill has issued its rebar price at TRY 17,650/mt ($634/mt) ex-works today.
The general sentiment on the demand side is still negative ahead of the Feast of Sacrifice and the Turkish Central Bank’s interest rate decision, and some local traders are applying aggressive pricing strategies to generate cash for credit payments.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
15.06.2023 |
15.06.2023 |
||||
|
Marmara |
8 mm |
646 |
18,000 |
-9 |
-300 |
|
Marmara |
12 mm |
625 |
17,400 |
-9 |
-300 |
|
Iskenderun |
8 mm |
639 |
17,800 |
-13 |
-400 |
|
Iskenderun |
10 mm |
632 |
17,600 |
-12 |
-400 |
|
Iskenderun |
12 mm |
618 |
17,200 |
-12 |
-400 |
|
Izmir |
8 mm |
639 |
17,800 |
-13 |
-400 |
|
Izmir |
10 mm |
632 |
17,600 |
-12 |
-400 |
|
Izmir |
12 mm |
618 |
17,200 |
-12 |
-400 |
|
Karabuk |
8 mm |
639 |
17,800 |
-18 |
-550 |
|
Karabuk |
12 mm |
618 |
17,200 |
-18 |
-550 |
All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 18 percent VAT, while prices on US dollar basis exclude VAT.
$1 = TRY 23.60