Today, March 28, Turkish domestic rebar spot prices have mostly remained stable on Turkish lira basis with a decrease of $3-4/mt on US dollar basis, against the backdrop of the ongoing currency fluctuations, compared to Monday, March 25. In addition, rebar spot prices in the Karabuk region have fallen by TRY 100/mt ($6-7/mt) over the same period. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,100-23,900 mt or $595-616/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 32.34.
Icdas has kept its official dollar-based rebar price at $620/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions varies at $595-620/mt ex-works, falling by $5/mt from earlier this week.
Due to the upward trend in the last couple of import scrap deals, rebar spot prices are expected to increase in the short term, though most local buyers do not appear ready to accept higher rebar prices due to the unclear financial situation in Turkey ahead of the local elections and given the sluggish demand during Ramadan.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
25.03.2024 |
25.03.2024 |
||||
Marmara |
8 mm |
636 |
24,700 |
-4 |
0 |
Marmara |
12 mm |
611 |
23,700 |
-3 |
0 |
Iskenderun |
8 mm |
642 |
24,900 |
-3 |
0 |
Iskenderun |
10 mm |
636 |
24,700 |
-4 |
0 |
Iskenderun |
12 mm |
616 |
23,900 |
-3 |
0 |
Izmir |
8 mm |
621 |
24,100 |
-4 |
0 |
Izmir |
10 mm |
616 |
23,900 |
-3 |
0 |
Izmir |
12 mm |
595 |
23,100 |
-4 |
0 |
Karabuk |
8 mm |
626 |
24,300 |
-6 |
-100 |
Karabuk |
12 mm |
600 |
23,300 |
-7 |
-100 |
All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 20 percent VAT, while prices on US dollar basis exclude VAT.
$1 = TRY 32.34
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