Local Turkish rebar spot prices move down

Thursday, 23 June 2022 16:54:37 (GMT+3)   |   Istanbul
       

Today, June 23, Turkish domestic rebar spot prices have fallen by TRY 400-650/mt ($20-32/mt) compared to Tuesday, June 21. The main reasons are the weaker prices in the import scrap and billet segments. The Turkish Central Bank has kept interest rates stable at 14 percent today. 12 mm rebar spot prices in Turkey have settled at TRY 12,550-13,200/mt or $612-644/mt ex-warehouse, depending on the region.

Most Marmara and Izmir-based mills are offering official rebar prices at $660/mt ex-works today. A few mills are applying aggressive pricing policies to narrow down the gap with local traders’ rebar spot prices. According to sources, $615-620/mt ex-works was on the table for serious buyers yesterday in the Izmir region and a firm bid for 5,000 mt rebar was rumored even to have been offered at around $600/mt ex-works in the same region yesterday. However, this price level has not been confirmed by the time of publication.

In the Samsun region, Yesilyurt Metallurgy opened its rebar sales at TRY 13,600/mt ex-works yesterday, equals t $663/mt ex-works at the current exchange rate.

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)

21.06.2022

21.06.2022

Marmara

8 mm

653

13,400

-26

-500

Marmara

12 mm

644

13,200

-25

-500

Iskenderun

8 mm

622

12,750

-32

-650

Iskenderun

10 mm

617

12,650

-32

-650

Iskenderun

12 mm

612

12,550

-32

-650

Izmir

8 mm

629

12,900

-20

-400

Izmir

10 mm

624

12,800

-20

-400

Izmir

12 mm

619

12,700

-20

-400

Karabuk

8 mm

639

13,100

-20

-400

Karabuk

12 mm

629

12,900

-20

-400

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 17.38


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