Local Turkish rebar spot prices rise as expected

Today, February 22, spot prices in the Turkish domestic rebar market have risen as expected, by TRY 30-70/mt ($1-7/mt), due to costlier scrap. As of today, 12 mm rebar spot prices in Turkey are at TRY 5,170-5,210/mt or $624-629/mt ex-warehouse depending on the region.

Icdas has increased its rebar price by TRY 80/mt to TRY 5,200/mt ($628/mt), down by $2/mt on US dollar basis compared to this morning. Most Marmara-based mills are currently offering rebar at TRY 5,260-5,300/mt ($635-640/mt) ex-works.

In the Izmir region, Izmir Demir Celik(IDC) is offering rebar at TRY 5,200/mt ($628/mt) ex-works and closed its rebar sales in the afternoon. According to sources, around 10,000 mt of rebar has been traded in the Izmir region at TRY 5,170/mt ($624/mt) ex-works today.

In the Iskenderun region, Bastug A.S. and Koc Metallurgy have opened their rebar sales at TRY 5,250/mt ($634/mt) ex-works, while two re-rollers in this region are currently offering rebar at TRY 5,200-5,250/mt ($628-634/mt) ex-warehouse. One re-roller in this region has closed its rebar sales in the afternoon, SteelOrbis has heard.

In the Samsun region, Yesilyurt has opened its rebar sales at TRY 5,400/mt ($652/mt) ex-works. In the Karabuk region, Yolbulan has opened its rebar sales at TRY 5,200/mt ($628/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 7.02