Local Turkish rebar spot prices have indicated an overall increase today, December 2, due to the rising trend of scrap prices. Turkish mills do not want to offer prices below $430/mt ex-works. Some restocking activity on the end-users’ side was seen at the end of last week, while some sources reported that inquiries have kept coming today. However, it is observed that Turkish mills are mostly refraining from new deals, probably aiming to increase their prices further, causing sales to remain limited.
Today, Turkish mill Icdas has kept its 12-32 mm rebar prices stable at TRY 2,508/mt ($436/mt) ex-works, while Izmir Demir Celik has increased its 12-32 mm rebar prices by TRY 25/mt ($5/mt) at TRY 2,500/mt ($435 mt) ex-works, both excluding VAT. Meanwhile, market sources report that Turkish rebar mills are offering discounts of TRY 20-40/mt (including VAT) for serious buyers.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
|
29.11.2019 |
29.11.2019 |
||||
|
Marmara |
8 mm |
2,483 |
432 |
+25 |
+5 |
|
Marmara |
12 mm |
2,466 |
429 |
+25 |
+5 |
|
Iskenderun |
8 mm |
2,483 |
432 |
+17 |
+3 |
|
Iskenderun |
10 mm |
2,470 |
430 |
+17 |
+3 |
|
Iskenderun |
12 mm |
2,458 |
427 |
+17 |
+3 |
|
Izmir |
8 mm |
2,492 |
433 |
+26 |
+4 |
|
Izmir |
10 mm |
2,483 |
432 |
+25 |
+5 |
|
Izmir |
12 mm |
2,475 |
430 |
+26 |
+4 |
|
Karabuk |
8 mm |
2,458 |
427 |
+17 |
+3 |
|
Karabuk |
12 mm |
2,441 |
424 |
+17 |
+2 |
All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.
$1 = TRY 5.75