As of today, November 21, Turkish domestic rebar spot prices have decreased by TRY 100-300/mt ($2-7/mt) against the backdrop of the ongoing currency fluctuations and weaker import scrap prices, compared to Monday, November 18. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 24,300-24,800/mt or $587-599/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 34.51.
The workable rebar prices in the Marmara and Izmir regions vary at $590-595/mt, including prices from Icdas A.S., for cash payment only.
One Iskenderun-based mill has issued its rebar price at TRY 25,000/mt ($604/mt) ex-works today. Another mill in this region is also offering the same price. Moreover, the workable rebar price in this region seems to be close to TRY 24,500-24,700/mt ($592-596/mt) ex-works, SteelOrbis has heard.
One Samsun-based mill issued its rebar price at TRY 25,200/mt ($609/mt) ex-works today.
The Turkish Central Bank has kept its interest rate at 50 percent today. A few local traders are offering aggressive prices and giving additional discounts to generate sales.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
18.11.2024 |
18.11.2024 |
||||
Marmara |
8 mm |
623 |
25,800 |
-2 |
-100 |
Marmara |
12 mm |
599 |
24,800 |
-2 |
-100 |
Iskenderun |
8 mm |
621 |
25,700 |
-6 |
-300 |
Iskenderun |
10 mm |
616 |
25,500 |
-6 |
-300 |
Iskenderun |
12 mm |
596 |
24,700 |
-7 |
-300 |
Izmir |
8 mm |
611 |
25,300 |
-4 |
-200 |
Izmir |
10 mm |
606 |
25,100 |
-4 |
-200 |
Izmir |
12 mm |
587 |
24,300 |
-4 |
-200 |
Karabuk |
8 mm |
621 |
25,700 |
-6 |
-300 |
Karabuk |
12 mm |
596 |
24,700 |
-7 |
-300 |
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 34.51
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