Today, July 17, Turkish domestic rebar spot prices have risen by TRY 200-500/mt ($2-12/mt) compared to Thursday, July 13, amid the lack of supply and currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,150-18,400/mt or $574-582/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 26.33.
Icdas A.S has cut its official rebar price by $30/mt to $590/mt ex-works today. Two mills in the Marmara region have already stopped their production for a week or little longer and so most local traders are attempting to increase their rebar prices. Most mills in the Izmir and Marmara regions are offering their list prices at $590-600/mt ex-works. In addition, one Iskenderun-based mill has closed its rebar sales today. Moreover, the Turkish Central Bank will announced its new interest rate decision on Thursday, July 20. Overall, the local rebar market is expected to gain clarity after the interest rate decision announcement as the exchange rate is also an important indicator.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
13.07.2023 |
13.07.2023 |
||||
|
Marmara |
8 mm |
601 |
19,000 |
+5 |
+300 |
|
Marmara |
12 mm |
582 |
18,400 |
+5 |
+300 |
|
Iskenderun |
8 mm |
595 |
18,800 |
+12 |
+500 |
|
Iskenderun |
10 mm |
589 |
18,600 |
+12 |
+500 |
|
Iskenderun |
12 mm |
576 |
18,200 |
+12 |
+500 |
|
Izmir |
8 mm |
593 |
18,750 |
+10 |
+450 |
|
Izmir |
10 mm |
587 |
18,550 |
+10 |
+450 |
|
Izmir |
12 mm |
574 |
18,150 |
+10 |
+450 |
|
Karabuk |
8 mm |
595 |
18,800 |
+2 |
+200 |
|
Karabuk |
12 mm |
576 |
18,200 |
+2 |
+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 26.33