Local Turkish rebar spot prices mostly drop in local currency amid weak demand

Thursday, 02 September 2021 17:22:45 (GMT+3)   |   Istanbul
       

Today, September 2, Turkish domestic rebar spot prices have decreased by TRY 20-50/mt in the local currency, with just minor changes on US dollar basis. Only rebar spot prices in the Izmir region have remained unchanged on lira basis today. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 6,440-6,500/mt or $659-665/mt ex-warehouse, depending on the region.

Most Marmara-based mills are offering rebar at $670-680/mt ex-works today.

Most Izmir-based mills are currently offering rebar at $655-660/mt ex-works, which seems more workable for now.

Most local traders are waiting to hear a few import scrap deals before restocking additional material. 

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

Region

Dimension

Price ($/mt)

Price (TRY/mt)

Price changes ($/mt)

Price changes (TRY/mt)

1.09.2021

1.09.2021

Marmara

8 mm

667

6,520

-4

-50

Marmara

12 mm

665

6,500

-4

-50

Iskenderun

8 mm

668

6,530

-2

-30

Iskenderun

10 mm

667

6,515

-1

-30

Iskenderun

12 mm

665

6,500

-2

-30

Izmir

8 mm

661

6,460

+1

0

Izmir

10 mm

660

6,450

+1

0

Izmir

12 mm

659

6,440

+1

0

Karabuk

8 mm

667

6,520

-1

-20

Karabuk

12 mm

665

6,500

-1

-20

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 8.28


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