Turkish domestic rebar spot prices fall further

Wednesday, 26 May 2021 17:24:58 (GMT+3)   |   Istanbul
       

Today, May 26, Turkish domestic rebar spot prices have decreased by another TRY 30-80/mt ($3-8/mt) amid the negative trend in China and limited domestic demand. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 7,150-7,200/mt or $718-723/mt ex-warehouse, depending on the region.

It is worth mentioning that the gap between producers’ rebar list prices and retail spot rebar prices has widened. Currently, most mills in the Izmir and Marmara regions are offering at $750-760/mt ex-works. Most Turkish mills are attempting to keep their official rebar list prices stable, while some local traders are in a rush to destock as they believe local prices may decrease further.

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)

25.05.2021

25.05.2021

Marmara

8 mm

725

7,220

-5

-50

Marmara

12 mm

723

7,200

-5

-50

Iskenderun

8 mm

721

7,180

-8

-80

Iskenderun

10 mm

719

7,165

-8

-80

Iskenderun

12 mm

718

7,150

-8

-80

Izmir

8 mm

722

7,190

-3

-30

Izmir

10 mm

721

7,180

-3

-30

Izmir

12 mm

720

7,170

-3

-30

Karabuk

8 mm

723

7,200

-4

-40

Karabuk

12 mm

721

7,180

-4

-40

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 8.44


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