Today, May 4, Turkish domestic rebar spot prices have fallen by TRY 400/mt ($18/mt) compared to Tuesday, May 2, amid the sharp decrease in import scrap prices and rapid currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,600-14,800/mt or $635-644/mt ex-warehouse, depending on the region.
Icdas A.S. has kept its official rebar price at $660/mt ex-works today. Price range in the Marmara region fell $10/mt compared to May 2 to $650-660/mt ex-works.
In the Iskenderun region, a few mills have been offering rebar at TRY 14,900-15,200/mt ex-works, while a few re-rollers were offering rebar at TRY 14,900-15,000/mt ex-warehouse yesterday. On US dollar basis, the mills' rebar prices are equal to $648-660/mt ex-works, while re-rollers prices are available at $648-652/mt ex-warehouse.
The general sentiment on the demand side is sluggish ahead of the elections due to be held on May 14.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
2.05.2023 |
2.05.2023 |
||||
|
Marmara |
8 mm |
644 |
14,800 |
-18 |
-400 |
|
Marmara |
12 mm |
635 |
14,600 |
-18 |
-400 |
|
Iskenderun |
8 mm |
644 |
14,800 |
-18 |
-400 |
|
Iskenderun |
10 mm |
639 |
14,700 |
-18 |
-400 |
|
Iskenderun |
12 mm |
635 |
14,600 |
-18 |
-400 |
|
Izmir |
8 mm |
644 |
14,800 |
-18 |
-400 |
|
Izmir |
10 mm |
639 |
14,700 |
-18 |
-400 |
|
Izmir |
12 mm |
635 |
14,600 |
-18 |
-400 |
|
Karabuk |
8 mm |
652 |
15,000 |
-18 |
-400 |
|
Karabuk |
12 mm |
644 |
14,800 |
-18 |
-400 |
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 19.49