Turkish domestic rebar spot prices fall below $700/mt

Thursday, 19 January 2023 17:23:45 (GMT+3)   |   Istanbul
       

Today, January 19, Turkish domestic rebar spot prices have fallen by another TRY 150-400/mt ($8-19/mt) compared to Monday, January 16, against the backdrop of currency fluctuations and weaker import scrap prices. The Turkish Central Bank has kept interest rates stable at nine percent today. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 15,150-15,500/mt or $683-699/mt ex-warehouse, depending on the region.

Icdas has kept its official rebar price stable at $730/mt ex-works today. Sources report the workable rebar price in the Marmara and Izmir regions varies at $690-715/mt ex-works. A few mills are applying aggressive pricing strategies to generate sales.

The overall sentiment on the demand side is negative due to the unclear financial situation in the country and most local traders are exerting pressure for further discounts.

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)

16.01.2023

16.01.2023

Marmara

8 mm

708

15,700

-9

-200

Marmara

12 mm

699

15,500

-9

-200

Iskenderun

8 mm

692

15,350

-16

-350

Iskenderun

10 mm

687

15,250

-17

-350

Iskenderun

12 mm

683

15,150

-16

-350

Izmir

8 mm

696

15,450

-19

-400

Izmir

10 mm

692

15,350

-18

-400

Izmir

12 mm

687

15,250

-19

-400

Karabuk

8 mm

705

15,650

-8

-150

Karabuk

12 mm

696

15,450

-8

-150

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 18.80


Similar articles

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet