Local Turkish rebar spot prices adjusted as week begins

Today, August 10, Turkish domestic rebar spot prices have increased by TRY 30-50/mt, down by $1-4/mt on US dollar basis. Moreover, rebar spot prices in the Iskenderun region have decreased by TRY 10/mt ($8-9/mt) compared to the end of last week. Sources report that the main reason for this slight decrease is to generate sales in the Iskenderun region. As a result, 12 mm rebar prices in the Turkish spot market have settled in the range of TRY 3,830-3,880/mt ($444-450/mt) ex-warehouse, depending on the region.

 Marmara region-based mill Icdas increased its rebar price by TRY 200/mt in the morning today to TRY 3,900/mt ($450/mt), with the dollar price rising by $2/mt in the afternoon due to the fluctuation of the currency fluctuation (from $1 = TRY 7.34 in the morning to $1 = TRY 7.31 in the afternoon). Most mills in this region are currently offering rebar at TRY 3,856-3,882/mt ($447-450/mt) ex-works. Sources report special discounts are available for serious buyers.

Izmir Demir Celik(IDC) has kept its rebar price in Turkish liras at TRY 3,850/mt ($446/mt) ex-works, with its dollar price down by $8/mt compared to last Friday.

In the Iskenderun region, most producers have still not opened their rebar sales.

In the Karabuk region, Yesilyurt is currently offering rebar at TRY 3,900/mt ($452/mt) ex-works.

As of today, rebar offers in the Turkish spot market are as follows:

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 7.31