Today, April 24, Turkish domestic rebar spot prices have fallen by TRY 100-200/mt ($7-12/mt) compared to Thursday, April 13, amid the negative sentiment in the import scrap segment and rapid currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 15,550-15,700/mt or $679-685/mt ex-warehouse, depending on the region.
Icdas A.S. has cut its official rebar price by $10/mt to $690/mt ex-works today. A few mills in the Marmara and Izmir regions are currently offering rebar at $685-690/mt ex-works, while a few mills have stopped quoting any rebar prices in the Marmara and Iskenderun regions for now. The Turkish Central Bank will announce its next decision on interest rates on Thursday, April 27. Most market players believe that interest rates may this time remain unchanged ahead of the elections.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
13.04.2023 |
13.04.2023 |
||||
|
Marmara |
8 mm |
688 |
15,750 |
-11 |
-200 |
|
Marmara |
12 mm |
679 |
15,550 |
-11 |
-200 |
|
Iskenderun |
8 mm |
690 |
15,800 |
-11 |
-200 |
|
Iskenderun |
10 mm |
685 |
15,700 |
-12 |
-200 |
|
Iskenderun |
12 mm |
681 |
15,600 |
-11 |
-200 |
|
Izmir |
8 mm |
688 |
15,750 |
-9 |
-150 |
|
Izmir |
10 mm |
683 |
15,650 |
-9 |
-150 |
|
Izmir |
12 mm |
679 |
15,550 |
-9 |
-150 |
|
Karabuk |
8 mm |
694 |
15,900 |
-7 |
-100 |
|
Karabuk |
12 mm |
685 |
15,700 |
-7 |
-100 |
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 19.41