Local Turkish spot rebar prices decline again

Thursday, 12 May 2022 17:32:36 (GMT+3)   |   Istanbul
       

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


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