Today, May 12, Turkish domestic rebar spot prices have decreased by another TRY 100-300/mt ($10-21/mt) against the backdrop of currency fluctuations and sluggish demand, after Kardemir issued its rebar price list earlier today. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,300-14,600/mt or $786-803/mt ex-warehouse, depending on the region.
Icdas has kept its official rebar price at $870/mt ex-works today. However, most mills in the Marmara and Izmir regions are giving sizeable discounts to bring prices in line with local traders’ rebar spot prices. Most local traders are waiting before restocking, although a few local traders have low stock levels in the current unclear financial situation in the country and believe that import scrap price levels have not reached the bottom yet.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
11.05.2022 |
11.05.2022 |
||||
|
Marmara |
8 mm |
814 |
14,800 |
-15 |
-200 |
|
Marmara |
12 mm |
803 |
14,600 |
-15 |
-200 |
|
Iskenderun |
8 mm |
808 |
14,700 |
-10 |
-100 |
|
Iskenderun |
10 mm |
803 |
14,600 |
-10 |
-100 |
|
Iskenderun |
12 mm |
797 |
14,500 |
-10 |
-100 |
|
Izmir |
8 mm |
797 |
14,500 |
-16 |
-200 |
|
Izmir |
10 mm |
792 |
14,400 |
-15 |
-200 |
|
Izmir |
12 mm |
786 |
14,300 |
-16 |
-200 |
|
Karabuk |
8 mm |
808 |
14,700 |
-21 |
-300 |
|
Karabuk |
12 mm |
797 |
14,500 |
-21 |
-300 |
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 15.41