Today, August 28, Turkish domestic rebar spot prices have risen by TRY 150-250/mt, while falling by $12-16/mt compared to Thursday, August 24 in order to offset currency fluctuations and sluggish demand. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,800-19,000/mt or $587-593/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 26,70.
Icdas has kept its dollar-based rebar price stable at $590/mt ex-works today. Most Marmara-based mills is offering their official rebar prices at $590-600/mt ex-works, including Icdas A.S. A few mills are calculating the exchange rate at $1 = TRY 27.00 to be on the safe side. One Iskenderun-based mill has closed its rebar sales today. On the demand side the general sentiment is negative so far. There is a national holiday on Wednesday, August 30. In addition, most local buyers are monitoring the import scrap price trend and waiting for the industry usage energy prices for September 1.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
24.08.2023 |
24.08.2023 |
||||
|
Marmara |
8 mm |
612 |
19,600 |
-12 |
+250 |
|
Marmara |
12 mm |
593 |
19,000 |
-12 |
+250 |
|
Iskenderun |
8 mm |
605 |
19,400 |
-16 |
+150 |
|
Iskenderun |
10 mm |
599 |
19,200 |
-16 |
+150 |
|
Iskenderun |
12 mm |
587 |
18,800 |
-15 |
+150 |
|
Izmir |
8 mm |
605 |
19,400 |
-16 |
+150 |
|
Izmir |
10 mm |
599 |
19,200 |
-16 |
+150 |
|
Izmir |
12 mm |
587 |
18,800 |
-15 |
+150 |
|
Karabuk |
8 mm |
607 |
19,450 |
-16 |
+150 |
|
Karabuk |
12 mm |
588 |
18,850 |
-15 |
+150 |
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 26.70