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