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