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