Turkish domestic rebar spot prices fall further

Thursday, 28 July 2022 17:30:10 (GMT+3)   |   Istanbul
       

Today, July 28, Turkish domestic rebar spot prices have fallen by TRY 200-400/mt ($10-19/mt), amid the rapid currency fluctuations and the negative sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 12,700-13,000/mt or $600-614/mt ex-warehouse, depending on the region.

Icdas A.S. has kept its official rebar prices at $640/mt ex-works, while the workable rebar prices vary at $620-630/mt ex-works in the Marmara region. Due to consistent aggressive pricing, a sale of 30,000-45,000 mt of rebar has been rumored at $585-590/mt ex-works in the Izmir region today, and most observers believe this deal has in fact been concluded.

In the Iskenderun region, Bastug Metallurgy has closed its rebar sales until Monday, August 1, while another re-roller has also closed its rebar sales for the same period.

Most local traders are cautious regarding new purchases, while a few local traders are piling up stocks in order to benefit from the aggressive pricing.

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)

27.07.2022

27.07.2022

Marmara

8 mm

623

13,200

-15

-300

Marmara

12 mm

614

13,000

-14

-300

Iskenderun

8 mm

614

13,000

-10

-200

Iskenderun

10 mm

609

12,900

-10

-200

Iskenderun

12 mm

604

12,800

-10

-200

Izmir

8 mm

600

12,700

-19

-400

Izmir

10 mm

595

12,600

-19

-400

Izmir

12 mm

590

12,500

-19

-400

Karabuk

8 mm

609

12,900

-15

-300

Karabuk

12 mm

600

12,700

-14

-300

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 17.95


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