Local Turkish rebar spot prices increase further

Today, September 2, Turkish domestic rebar spot prices have increased by TRY 50-70/mt ($4-7/mt), as compared to Monday, August 31. Accordingly, 12 mm rebar prices in the overall local Turkish spot market are now at TRY 3,950-3,970/mt ($454-456/mt) ex-warehouse, depending on the region.

Marmara region-based Icdas has today increased its rebar price by TRY 50/mt to TRY 4,000/mt ($460/mt) ex-works. Moreover, most mills in the Marmara region are currently offering rebar at TRY 3,960-4,000/mt ($455-460/mt) ex-works as of today.

Izmir Demir Celik (IDC) has also increased its rebar price by TRY 30/mt ($2/mt) and is currently offering rebar at TRY 3,960/mt ($455/mt) ex-works. Sources report that a small-tonnage rebar lot has been traded at TRY 3,940/mt ($452/mt) ex-works today.

In the Iskenderun region, Bastug A.S. has closed its rebar sales for today. Sources report that approximately 20,000-30,000 mt of rebar has been traded in this region at TRY 3,900-3,920/mt ($448-450/mt) ex-works yesterday. However, this has not been confirmed by the time of publication. Moreover, approximately 10,000 mt of rebar has been traded at TRY 3,950/mt ($454/mt) ex-works today.

In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 3,990/mt ($458/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 7.38