Local Turkish rebar spot prices follow diverse trends

Today, December 19, Turkish domestic rebar spot prices have increased by TRY 150/mt ($7/mt) in the Iskenderun region due to limited supply, while falling by TRY 50-150/mt ($2-7/mt) in the Marmara and Karabuk regions following Icdas’s recent price cut compared to Wednesday, December 14, against the backdrop of currency fluctuations and stable import scrap prices. The rebar spot price in the Izmir region has remained unchanged over the same period. Most local traders have excess stocks and are not in a rush to restock material due to adverse weather conditions. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,400-14,600/mt or $654-663/mt ex-warehouse, depending on the region.

Icdas has cut its rebar price by $20/mt to $670/mt ex-works today. Izmir Demir Celik (IDC) has stopped quoting any rebar price for now. According to sources, the official rebar price range varies at $655-675/mt ex-works in the Izmir and Marmara regions. Most Turkish producers are also taking the advantage of the depreciation of the Turkish lira against US dollar and are attempting to compensate for their slow rebar export sales with local rebar sales.

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 18.65