Over the past week, Turkish domestic official merchant bar prices have risen by TRY 270-630/mt in order to offset the ongoing depreciation of the Turkish lira against the US dollar and given the unclear financial situation in the country. Turkish merchant bar producers have continued to quote Turkish lira-based prices instead of prices on US dollar basis. A few buyers are exerting pressure for additional discounts due to the unclear economic situation ahead of the second round of the presidential election due on Sunday, May 28. One Iskenderun-based mill has issued its official merchant bar price at TRY 14,150/mt, excluding VAT, ($699/mt) ex-works today.
Most merchant bar sellers are offering for June delivery and only limited tonnages are available either from stocks or for late May delivery. A few re-rollers are also offering their HEA/HEB (100-200 mm, standard) at TRY 17,700/mt, excluding VAT, ($865/mt) ex-works, rising by TRY 200/mt while falling by $29/mt over the past week.
Most local buyers evalutate the exchange rate as $1 = TRY 20.24, although the Turkish Central Bank’s exchange rate stands at $1 = TRY 19.75 today.
Equal Angle Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
15,180-15,380 |
750-760 |
+500 |
0 |
|
Karabuk Region (30-100mm) |
14,380-14,480 |
710-715 |
+630 |
+8 |
|
Iskenderun Region (30-100 mm) |
14,150-14,350 |
699-709 |
+270 |
-10 |
|
Izmir Region (30-100 mm) |
14,980-15,180 |
740-750 |
+500 |
0 |
Flat Bar Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
15,220-15,420 |
752-762 |
+500 |
0 |
|
Karabuk Region (30-100mm) |
14,420-14,520 |
712-717 |
+630 |
+8 |
|
Iskenderun Region (30-100 mm) |
14,190-14,390 |
701-711 |
+270 |
-10 |
|
Izmir Region (30-100 mm) |
15,020-15,220 |
742-752 |
+500 |
0 |
NPI-NPU Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
Price change ($/mt) |
|
Denizli Region (30-100 mm) |
15,180-15,380 |
750-760 |
+500 |
0 |
|
Karabuk Region (30-100 mm) |
14,380-14,480 |
700-710 |
+630 |
+8 |
|
Iskenderun Region (30-100 mm) |
14,150-14,350 |
709-719 |
+270 |
-10 |
|
Izmir Region (30-50 mm) |
14,980-15,180 |
740-750 |
+500 |
0 |
The above prices exclude 18 percent vat, are on ex-works basis and for cash payment. Price changes in the tables above are calculated as compared to Thursday, May 11.
$1 = TRY 20.24