Rebar spot prices in Turkey follow diverse trends

As of today, August 4, local rebar prices in the Turkish spot market have remained stable on Turkish lira basis in the Marmara and Iskenderun regions with minor changes on US dollar basis, while rising by TRY 100-200 TL/mt ($1-3/mt) in the Izmir and Karabuk regions compared to July 31 due to the ongoing exchange rate fluctuations. Consequently, local 12mm rebar prices in the spot market are now trading at TRY 26,500-27,200 TL/mt ($543-557/mt) ex-warehouse, depending on the region, with the exchange rate t $1 = TRY 40.68.

Official offers for cash payments for rebar in the Marmara and Izmir regions, including prices from İçdaş , have fallen by $5/mt on the higher end from July 31, hovering at $550-65/mt ex-works, while acceptable prices have remained unchanged at $545-55/mt ex-works. 

Meanwhile, a producer in Iskenderun today issued its official rebar price at TRY 27,450/mt ($562/m) ex-works, stable in the local currency while falling by $2/mt on US dollar basis over the same period. According to sources, several Iskenderun-based rolling mills are offering rebar to serious buyers today at around TRY 27,150-27,250/mt ($556-558/mt) ex-warehouse, indicating a decrease of TRY 50/mt ($2/mt).

A Samsun-based manufacturer has extended its rebar sales until August 11.

A Thrace-based mill and an Izmir-based mill have set their 10 mm and 8 mm conversion costs at TRY 1,100/mt ($23/mt) and TRY 1,250/mt ($26/mt) today. 

All prices are ex-warehouse and based on actual weight. Prices in Turkish Lira include 20 percent VAT, while prices in US dollars exclude VAT.

 $1 = TRY 40.68