Today, December 21, Turkish domestic rebar spot prices have mostly fallen by TRY 100-200/mt (5-9/mt) compared to Monday, December 18, while remaining stable in the local currency in the Marmara region with minor changes on US dollar basis against the backdrop of the ongoing currency fluctuations and sluggish demand. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 20,800-21,400/mt or $594-612/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 29.16.
Icdas has kept its official dollar-based rebar price stable at $620/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions has also remained stable at $620-635/mt ex-works. It is worth mentioning that an additional $10/mt discount is applicable for the serious buyers.
A few re-rollers in the Iskenderun region are also offering rebar at TRY 21,100/mt ($603/mt), ex-warehouse today.
Turkish Central Bank has decided to raise its interest rate from 40 percent to 42.5 percent today. As a result, a few mills are adopting an aggressive pricing policy to generate cash while giving sizeable discounts as the year is about to end.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
18.12.2023 |
18.12.2023 |
||||
Marmara |
8 mm |
640 |
22,400 |
-3 |
0 |
Marmara |
12 mm |
612 |
21,400 |
-2 |
0 |
Iskenderun |
8 mm |
637 |
22,300 |
-6 |
-100 |
Iskenderun |
10 mm |
632 |
22,100 |
-5 |
-100 |
Iskenderun |
12 mm |
609 |
21,300 |
-5 |
-100 |
Izmir |
8 mm |
623 |
21,800 |
-5 |
-100 |
Izmir |
10 mm |
617 |
21,600 |
-5 |
-100 |
Izmir |
12 mm |
594 |
20,800 |
-6 |
-100 |
Karabuk |
8 mm |
634 |
22,200 |
-9 |
-200 |
Karabuk |
12 mm |
606 |
21,200 |
-8 |
-200 |
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 29.16