Today, January 27, spot prices in the Turkish domestic rebar market have decreased by TRY 20-80/mt ($6-13/mt), which is the expected result of the significant drop in import scrap deal price levels. As of today, 12 mm rebar spot prices in Turkey are at TRY 5,210-5,300/mt or $597-608/mt ex-warehouse depending on the region. In the meantime, mills are keeping their prices higher than retail prices and this situation is considered a sign that traders are trying to destock before prices in the market fall even more significantly.
Icdas has cut its rebar price in local currency by TRY 130/mt to TRY 5,390/mt ($618/mt) ex-works, down by $3/mt on US dollar basis compared to early this morning.
Most mills in the Izmir and Marmara regions are currently offering rebar at TRY 5,320-5,405 /mt (610-620/mt) ex-works, down by an average of $15/mt on US dollar basis today.
In the Iskenderun region, Bastug Metallurgy has opened its rebar sales at TRY 5,390/mt ($618/mt) ex-works.
In the Samsun region, Yesilyurt A.S. has opened its rebar sales at TRY 5,420/mt ($622/mt) ex-works as today.
Most buyers are still in wait-and-see mode due to the sharp currency fluctuations and slow trading activity.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
26.01.2021 |
26.01.2021 |
||||
|
Marmara |
8 mm |
610 |
5,320 |
-13 |
-80 |
|
Marmara |
12 mm |
608 |
5,300 |
-12 |
-80 |
|
Iskenderun |
8 mm |
601 |
5,240 |
-9 |
-50 |
|
Iskenderun |
10 mm |
599 |
5,225 |
-9 |
-50 |
|
Iskenderun |
12 mm |
597 |
5,210 |
-9 |
-50 |
|
Izmir |
8 mm |
604 |
5,270 |
-6 |
-20 |
|
Izmir |
10 mm |
603 |
5,260 |
-6 |
-20 |
|
Izmir |
12 mm |
602 |
5,250 |
-6 |
-20 |
|
Karabuk |
8 mm |
604 |
5,270 |
-11 |
-60 |
|
Karabuk |
12 mm |
602 |
5,250 |
-10 |
-60 |
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 7.39