Today, December 18, Turkish domestic rebar spot prices have fallen by TRY 100-300/mt (4-10/mt) compared to Thursday, December 14, amid the ongoing currency fluctuations and sluggish demand. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 20,900-21,400/mt or $600-614/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 29.05.
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, while additional discounts are applicable for serious buyers.
One Iskenderun-based mill has still kept its rebar sales closed today. A few re-rollers in the same region are also offering rebar at TRY 22,000/mt ($631/mt) ex-warehouse, with minor changes on US dollar basis.
Most local buyers are in wait-and-see mode until the Turkish Central Bank's interest rate decision due on Thursday, December 21, while some local traders are applying aggressive pricing policies to generate cash as the year is about to end.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
14.12.2023 |
14.12.2023 |
||||
Marmara |
8 mm |
643 |
22,400 |
-6 |
-200 |
Marmara |
12 mm |
614 |
21,400 |
-7 |
-200 |
Iskenderun |
8 mm |
643 |
22,400 |
-9 |
-300 |
Iskenderun |
10 mm |
637 |
22,200 |
-10 |
-300 |
Iskenderun |
12 mm |
614 |
21,400 |
-10 |
-300 |
Izmir |
8 mm |
628 |
21,900 |
-10 |
-300 |
Izmir |
10 mm |
622 |
21,700 |
-10 |
-300 |
Izmir |
12 mm |
600 |
20,900 |
-9 |
-300 |
Karabuk |
8 mm |
643 |
22,400 |
-4 |
-100 |
Karabuk |
12 mm |
614 |
21,400 |
-4 |
-100 |
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 29.05
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