Domestic rebar spot prices in Turkey have dropped by TRY 30-50/mt on Monday, March 23, compared to Friday, March 20, with 12 mm rebar sales prices how at TRY 3,020-3,100/mt ex-warehouse, while prices on US dollar basis are down $8-10/mt. While most local traders are trying to generate rebar sales, buyers are still on hold due to the lack of clarity regarding the impact of the coronavirus on demand, the ongoing currency fluctuations, and the negative mood in the import scrap segment.
On Monday, Turkish mill Icdas has decreased its 12-32 mm rebar sales price by TRY 100/mt to TRY 3,200/mt($411/mt) ex-works. Izmir Demir Celik (IDC) is also offering at the same price as Icdas, with a TRY 50/mt drop in the local currency price and a $11/mt decrease in price on US dollar basis compared to Friday, March 20. Sources report some mills in the Marmara region are currently offering 12 mm rebar at TRY 3,100-3,193/mt ($398-410/mt) ex-works.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
20.03.2020 |
20.03.2020 |
||||
|
Marmara |
8 mm |
401 |
3,120 |
-9 |
-40 |
|
Marmara |
12 mm |
398 |
3,100 |
-10 |
-40 |
|
Iskenderun |
8 mm |
392 |
3,050 |
-10 |
-50 |
|
Iskenderun |
10 mm |
390 |
3,035 |
-10 |
-50 |
|
Iskenderun |
12 mm |
388 |
3,020 |
-10 |
-50 |
|
Izmir |
8 mm |
397 |
3,090 |
-8 |
-30 |
|
Izmir |
10 mm |
395 |
3,080 |
-9 |
-30 |
|
Izmir |
12 mm |
394 |
3,070 |
-8 |
-30 |
|
Karabuk |
8 mm |
393 |
3,060 |
-8 |
-30 |
|
Karabuk |
12 mm |
390 |
3,040 |
-8 |
-30 |
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 6.60