Turkish domestic rebar prices start the week with another increase

As of today, September 7, most Turkish mills based in the Marmara region have raised their official dollar-based local rebar prices further compared to September 3 amid the ongoing currency fluctuations, the positive trend of import scrap prices and plentiful availability of sizes.

A few Marmara-based mills have raised their official rebar prices by $5/mt to $615-630/mt ex-works since September 3. In addition, Turkish workable domestic dollar-based rebar offers in the Marmara region have settled at $615-628/mt ex-works, including Icdas A.S.'s prices, up by $5/mt over the same period. Two Izmir-based mills have raised their rebar prices by TRY 450/mt ($6/mt) to TRY 35,450/mt ($610/mt) ex-works compared to September 3. According to sources, the overall workable rebar prices for cash payment from mills in the Marmara and Izmir regions are at around $606-628/mt ex-works, up by $4-5/mt over the same period.

One of the main players in the Iskenderun region has raised its rebar price by TRY 100/mt in order to offset currency fluctuations, while keeping its rebar price unchanged on US dollar basis to TRY 35,000/mt ($602/mt) ex-works compared to September 3. Sources report that several Iskenderun-based rolling mills have set their rebar prices for serious buyers paying in cash at TRY 34,800-34,900/mt ($599-601/mt) ex-warehouse, up by TRY 200/mt ($2/mt) over the same period.

Currently, local 12 mm rebar prices in the spot market in Turkey are in the range of TRY 35,000-36,500/mt ($602-628/mt) ex-warehouse, up by TRY 200-400/mt ($2-5/mt) since September 3.

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

$1 = TRY 48.43