As a result of the sharp depreciation of the Turkish lira against the US dollar observed today, April 25, domestic rebar prices in Turkey have increased by TRY 8-42/mt as compared to yesterday. Turkish traders’ domestic rebar prices are currently in the range of TRY 3,280-3,380/mt ex-warehouse, including 18 percent VAT.
Market sources state that, having been weak for some time now, demand in the local Turkish rebar market has slightly recovered after the movements of the exchange rate as they caused an expectation of a further depreciation in the Turkish lira amongst buyers, and also as purchases were concluded to meet needs ahead of the Ramadan.
Today, Turkish mill Icdas has increased its 12-32 mm rebar prices by TRY 10/mt to TRY 2,860/mt ($481/mt) ex-works, while Izmir Demir Celik has raised its 12-32 mm rebar prices by TRY 17/mt to TRY 2,856/mt ($480/mt) ex-works, both excluding VAT. However, Izmir Demir Celik has closed its sales at the end of the day due to the weakening of the Turkish lira.
As of today, April 25, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
24.04.2019 |
24.04.2019 |
||||||
|
Marmara |
8 mm |
2,864 |
481 |
↑ |
42 |
↑ |
1 |
|
Marmara |
12 mm |
2,847 |
479 |
↑ |
42 |
↑ |
2 |
|
Iskenderun |
8 mm |
2,814 |
473 |
↑ |
17 |
↓ |
3 |
|
Iskenderun |
10 mm |
2,801 |
471 |
↑ |
17 |
↓ |
2 |
|
Iskenderun |
12 mm |
2,788 |
469 |
↑ |
17 |
↓ |
2 |
|
Izmir |
8 mm |
2,839 |
477 |
↑ |
8 |
↓ |
4 |
|
Izmir |
10 mm |
2,831 |
476 |
↑ |
9 |
↓ |
4 |
|
Izmir |
12 mm |
2,822 |
474 |
↑ |
8 |
↓ |
4 |
|
Karabuk |
8 mm |
2,797 |
470 |
↑ |
17 |
↓ |
3 |
|
Karabuk |
12 mm |
2,780 |
467 |
↑ |
17 |
↓ |
3 |
All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.
$1 = TRY 5.95