As a result of the depreciation of the Turkish lira against the US dollar recorded today, April 18, domestic rebar prices in Turkey have moved up by TRY 30/mt week on week to TRY 3,270-3,300/mt ex-warehouse, including 18 percent VAT.
Market sources report that demand in the local Turkish rebar market has remained at low levels. On the other hand, after reducing their domestic rebar quotations to conclude sales despite the weakness of the Turkish lira, traders have once again increased their prices today due to a further sharp depreciation of the lira.
Additionally, Turkey’s decision to increase the 10 percent import duty on rebar to 30 percent for countries which are not members of the World Trade Organization (WTO) is expected to hit rebar imports from Iran the most.
Additionally, Turkish mill Icdas has announced its 12-32 mm rebar prices today at TRY 2,850/mt ($488/mt) ex-works, while Izmir Demir Celik has announced its 12-32 mm rebar prices today with prices standing at TRY 2,847/mt ($488/mt) ex-works, both excluding VAT.
As of today, April 18, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
17.04.2019 |
17.04.2019 |
||||||
|
Marmara |
8 mm |
2,814 |
482 |
↑ |
26 |
↓ |
5 |
|
Marmara |
12 mm |
2,797 |
479 |
↑ |
26 |
↓ |
5 |
|
Iskenderun |
8 mm |
2,805 |
480 |
↑ |
34 |
↓ |
4 |
|
Iskenderun |
10 mm |
2,792 |
478 |
↑ |
34 |
↓ |
3 |
|
Iskenderun |
12 mm |
2,780 |
476 |
↑ |
34 |
↓ |
3 |
|
Izmir |
8 mm |
2,814 |
482 |
↑ |
26 |
↓ |
5 |
|
Izmir |
10 mm |
2,805 |
480 |
↑ |
25 |
↓ |
5 |
|
Izmir |
12 mm |
2,797 |
479 |
↑ |
26 |
↓ |
5 |
|
Karabuk |
8 mm |
2,788 |
477 |
↑ |
25 |
↓ |
5 |
|
Karabuk |
12 mm |
2,771 |
475 |
↑ |
25 |
↓ |
4 |
All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.
$1 = TRY 5.84