Today, April 27, Turkish domestic rebar spot prices have fallen by TRY 250-300/mt ($11-14/mt) compared to Monday, April 24, amid the pessimistic outlook in the import scrap and billet segments and the rapid currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 15,250-15,450/mt or $665-674/mt ex-warehouse, depending on the region.
Icdas A.S. has kept its official rebar price at $690/mt ex-works today. A few mills in the Marmara region are also currently offering rebar at $690/mt ex-works. However, with the previous small tonnage rebar sales at $670/mt ex-works earlier this week taken into account, the workable rebar price seems close to $670/mt ex-works in line with traders' existing local rebar spot prices. The Turkish central bank has kept interest rates stable at 8.5 percent today. Most local buyers are refraining from restocking ahead of the Turkish election on May,14 and are only purchasing in line with their daily needs.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
24.04.2023 |
24.04.2023 |
||||
|
Marmara |
8 mm |
676 |
15,500 |
-12 |
-250 |
|
Marmara |
12 mm |
667 |
15,300 |
-12 |
-250 |
|
Iskenderun |
8 mm |
676 |
15,500 |
-14 |
-300 |
|
Iskenderun |
10 mm |
671 |
15,400 |
-14 |
-300 |
|
Iskenderun |
12 mm |
667 |
15,300 |
-14 |
-300 |
|
Izmir |
8 mm |
674 |
15,450 |
-14 |
-300 |
|
Izmir |
10 mm |
669 |
15,350 |
-14 |
-300 |
|
Izmir |
12 mm |
665 |
15,250 |
-14 |
-300 |
|
Karabuk |
8 mm |
682 |
15,650 |
-12 |
-250 |
|
Karabuk |
12 mm |
674 |
15,450 |
-11 |
-250 |
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 19.44