Local Turkish rebar spot prices revised to offset currency fluctuations

Today, July 28, Turkish domestic rebar spot prices have increased by TRY 10-40/mt but inched down by $1-5/mt on US dollar basis. As a result, 12 mm rebar prices in the Turkish spot market have settled in the range of TRY 3,540-3,580/mt ($432-437/mt) ex-warehouse, depending on the region.

Icdas has kept its rebar prices in Turkish liras at TRY 3,520/mt ($430/mt) ex-works, though the US dollar price has declined by $5/mt today. Another mill in the Marmara region is currently offering rebar at TRY 3,603/mt ($440/mt ex-works.

The rebar price of Izmir Demir Celik (IDC) has increased by TRY 30/mt today in the local currency to TRY 3,550/mt ($433/mt) ex-works, with the dollar price down $2/mt. Sources report that over 30,000 mt of rebar have traded in the Marmara and Izmir regions at TRY 3,520/mt($430/mt ex-works as of today.

Some Iskenderun-based mills and re-rollers, including Bastug A.S., have closed their rebar sales until Tuesday, August 4. In addition, Koc Metallurgy is offering 12 mm rebar at TRY 3,620/mt ($442/mt) ex-works. Erhaller re-roller is offering rebar at TRY 3,640/mt ($444/mt) ex-works as of today.

In the Karabuk region, Yolbulan A.S. is currently offering 12 mm rebar at TRY 3,570/mt ex-works while Yesilyurt A.S. is offering the same material at TRY 3,620 ($442/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 6.94