As the rebar business in Turkey has seen some significant weakening since early last week, the sellers, including traders, have been forced to constantly decrease prices. Today, March 26, the price levels for 12 mm rebar have decreased by another TRY 20-50/mt or by $4-9/mt, taking into account the currency fluctuations. Only in the Karabuk region have offers remained stable for now. As a result, the base price for rebar in Turkey on Turkish lira basis is at TRY 2,900-2,980/mt ex-warehouse. On US dollar basis, the level is at $382-393/mt ex-warehouse according to the current exchange rate.
Turkish mill Icdas has decreased its 12-32 mm rebar price by TRY 60/mt ($10/mt) today to TRY 3,060/mt ($403/mt) ex-works. Izmir Demir Celik has also decreased its rebar price by TRY 50/mt ($9/mt) on the same day to TRY 3,050/mt ($402/mt) ex-works. Some Marmara-based mills are currently offering 12 mm rebar at around TRY 2,997/mt ($395/mt) ex-works, while in Izmir some offers are at TRY 2,970/mt ($391/mt) ex-works for the same dimension.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
25.03.2020 |
25.03.2020 |
||||
|
Marmara |
8 mm |
395 |
3,000 |
-5 |
-20 |
|
Marmara |
12 mm |
393 |
2,980 |
-4 |
-20 |
|
Iskenderun |
8 mm |
386 |
2,930 |
-9 |
-50 |
|
Iskenderun |
10 mm |
384 |
2,915 |
-9 |
-50 |
|
Iskenderun |
12 mm |
382 |
2,900 |
-9 |
-50 |
|
Izmir |
8 mm |
394 |
2,990 |
-6 |
-30 |
|
Izmir |
10 mm |
393 |
2,980 |
-6 |
-30 |
|
Izmir |
12 mm |
391 |
2,970 |
-6 |
-30 |
|
Karabuk |
8 mm |
390 |
2,960 |
-2 |
0 |
|
Karabuk |
12 mm |
387 |
2,940 |
-2 |
0 |
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 6.43