Local Turkish rebar spot prices have increased by TRY 10-20/mt today, February 20, as sellers have been aiming to offset currency fluctuations. As a result, the traders are trying to keep their US dollar-denominated prices at $441-447/mt ex-warehouse for 12 mm rebar.
Mills in Turkey have been following similar price policies. Local mill Icdas has kept its level relatively unchanged at $446/mt ex-works, having increased price on Turkish lira basis by TRY 30/mt to TRY 3,210/mt ex-works. Another Marmara region-based mill has increased its domestic price by TRY 15/mt since yesterday to TRY 3,270/mt ex-works, while keeping its dollar price at $455/mt ex-works. Izmir Demir Celik (IDC) is taking its time to revise its price, with its offers remaining at TRY 3,200/mt ex-works, while its price on dollar basis has declined by $3/mt to $445/mt ex-works. In the Iskenderun region, one of the mills has set its offers at $446/mt (TRY 3,210/mt) ex-works, while some other Iskenderun-based mills have preferred to stay out of the market for now.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
19.02.2020 |
19.02.2020 |
||||
|
Marmara |
8 mm |
449 |
3,230 |
0 |
+20 |
|
Marmara |
12 mm |
447 |
3,210 |
+1 |
+20 |
|
Iskenderun |
8 mm |
445 |
3,200 |
0 |
+20 |
|
Iskenderun |
10 mm |
443 |
3,185 |
0 |
+20 |
|
Iskenderun |
12 mm |
441 |
3,170 |
0 |
+20 |
|
Izmir |
8 mm |
445 |
3,200 |
-1 |
+10 |
|
Izmir |
10 mm |
444 |
3,190 |
-1 |
+10 |
|
Izmir |
12 mm |
443 |
3,180 |
0 |
+10 |
|
Karabuk |
8 mm |
444 |
3,190 |
-1 |
+10 |
|
Karabuk |
12 mm |
441 |
3,170 |
-1 |
+10 |
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 6.09