Local Turkish rebar spot prices decline after Turkey’s CB decision

Thursday, 12 September 2019 17:27:42 (GMT+3)   |   Istanbul
       

Today, September 12, spot prices in the local Turkish rebar market decreased on the national currency basis as the Turkish lira has gained strength against the US dollar after the recent decision of the Central Bank of Turkey to cut the interest rate. The rebar price drop amounted to TRY 20-60/mt, including 18 percent VAT,  while the demand from the local customers remains subdued, SteelOrbis understands.

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

Region

Dimension

Price (TRY/mt)

Price ($/mt)

Price changes (TRY/mt)

Price changes ($/mt)

10.09.2019

10.09.2019

Marmara

8 mm

2,432

427

-34

0

Marmara

12 mm

2,415

424

-34

0

Iskenderun

8 mm

2,483

436

-17

+3

Iskenderun

10 mm

2,470

434

-17

+4

Iskenderun

12 mm

2,458

432

-17

+4

Izmir

8 mm

2,424

426

-51*

-2

Izmir

10 mm

2,415

424

-51*

-3

Izmir

12 mm

2,407

423

-51*

-2

Karabuk

8 mm

2,415

424

-51

-3

Karabuk

12 mm

2,398

421

-51

-3

All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.

*After the TRY 8.4/mt price decrease recorded in Turkey’s Izmir region yesterday, another fall of TRY 42.4/mt is observed today. And so the price decrease in this region totaled TRY 51/mt as compared to September 10. All prices exclude 18 percent VAT. 

$1 = TRY 5.69


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