Local Turkish rebar spot prices mostly indicate slight increase

Today, October 7, Turkish domestic rebar spot prices have risen by TRY 10/mt - while declining by $4-6/mt on US dollar basis - to offset currency fluctuations, despite weak demand. Only in the Izmir region have rebar prices moved sideways for two days in a row. Accordingly, 12 mm rebar prices in the overall local Turkish spot market have settled at TRY 4,080-4,130/mt ($439-445/mt) ex-warehouse, depending on the region.

Today, İçdaş has increased its rebar price by TRY 70/mt ($4/mt) at TRY 4,220/mt ($454/mt) ex-works, with its dollar-based price down $3/mt on the same day from $457/mt ex-works this morning.

Most Izmir-based mills are currently offering rebar at TRY 4,150/mt ($447/mt) ex-works, up TRY 20/mt today, while declining by $3/mt on the same day.

In the Iskenderun region, Bastug A.S. has opened its rebar sales at TRY 4,150/mt (447/mt) ex-works, while Koc Metalurgy is currently offering rebar at TRY 4,140/mt ex-works ($446/mt) ex-works. “ Approximately 30,000 mt of rebar has been traded at TRY 4,150 mt ex-works and above in the last two days in the Iskenderun region,” one source mentioned.

In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 4,140/mt ($446/mt) ex-works.

In the Samsun region, Yesilyurt A.S. has opened its rebar sales at TRY 4,200/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 7.87