Local Turkish rebar spot prices trend up amid stronger scrap

Today, February 18, spot prices in the Turkish domestic rebar market have increased by TRY 30-80/mt ($5-11/mt) compared to two days ago due to costlier scrap and currency fluctuations. As of today, 12 mm rebar spot prices in Turkey are at TRY 5,040-5,080/mt or $615-619/mt ex-warehouse depending on the region.

Icdas has increased its rebar price by TRY 50/mt to TRY 5,120/mt ($624/mt), up by $4/mt compared to earlier this morning and up $10/mt on dollar basis. Most Marmara-based mills are currently offering rebar at TRY 5,170-5,210/mt ($630-635/mt) ex-works.

Izmir Demir Celik(IDC) is also offering rebar at TRY 5,085/mt ($620/mt) ex-works. Sources report that around 8,000-10,000 mt of rebar were traded at TRY 5,020/mt ($612/mt) ex-works in the region yesterday.

In the Iskenderun region, Bastug A.S. has opened its rebar sales at TRY 5,050/mt ($616/mt) ex-works, while Koc Metallurgy has opened its rebar sales at TRY 5,100/mt ($622/mt) ex-works. One re-roller in this region is also offering rebar at TRY 5,130/mt ($626/mt) ex-warehouse.

In the Samsun region, Yesilyurt A.S. has kept its rebar prices at TRY 5,300/mt ($646/mt) ex-works for March delivery. In the Karabuk region, Yolbulan A.S. has closed its rebar sales for now and is expected to revise them shortly.

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 6.95