Today, July 6, Turkish domestic rebar spot prices have fallen by TRY 450-600/mt ($12-18/mt) compared to Monday, July 3, amid currency fluctuations and the negative sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,300-18,500/mt or $597-603/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 25.98.
Icdas A.S has kept its rebar price at $630/mt ex-works today. One Izmir-based mill is offering rebar at $615/mt ex-works today. In addition, one Iskenderun-based mill has issued its rebar price at TRY 18,400/mt ex-works which equals $600/mt at the current exchange rate, falling by TRY 100/mt ($1/mt) today.
Kardemir succeeded in selling around 30,000 mt of rebar at $608/mt ex-works earlier today. Most local traders are exerting pressure for additional discounts, while Turkish mills are attempting to keep their rebar prices unchanged under the unclear financial situation in the country.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
3.07.2023 |
3.07.2023 |
||||
|
Marmara |
8 mm |
623 |
19,100 |
-18 |
-600 |
|
Marmara |
12 mm |
603 |
18,500 |
-18 |
-600 |
|
Iskenderun |
8 mm |
617 |
18,900 |
-14 |
-500 |
|
Iskenderun |
10 mm |
610 |
18,700 |
-15 |
-500 |
|
Iskenderun |
12 mm |
597 |
18,300 |
-15 |
-500 |
|
Izmir |
8 mm |
617 |
18,900 |
-12 |
-450 |
|
Izmir |
10 mm |
610 |
18,700 |
-13 |
-450 |
|
Izmir |
12 mm |
597 |
18,300 |
-13 |
-450 |
|
Karabuk |
8 mm |
620 |
19,000 |
-18 |
-600 |
|
Karabuk |
12 mm |
600 |
18,400 |
-18 |
-600 |
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 25,98