Today, July 25, Turkish domestic rebar spot prices have decreased by TRY 350-450/mt ($21-26/mt), as compared to the end of last week, due to the negative mood in the import scrap and billet segments and the rapid depreciation of the Turkish lira against the US dollar. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 13,500-13,900/mt or $641-660/mt ex-warehouse, depending on the region.
Icdas A.S. has cut its official rebar price by $40/mt to $680/mt ex-works today. Most mills in the Marmara and Izmir regions are offering rebar at $670-680/mt ex-works. According to sources, a few mills are applying aggressive pricing policies to generate sales and are testing rebar prices below the lower end of local traders’ spot rebar prices at $640/mt ex-warehouse. A sale of a lot of rebar at even $620-630/mt ex-works has been rumored in the Izmir region.
Most local traders are monitoring the import scrap and billet price trends in order to restock material amid the unclear financial situation in the country.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
22.07.2022 |
22.07.2022 |
||||
|
Marmara |
8 mm |
670 |
14,100 |
-21 |
-350 |
|
Marmara |
12 mm |
660 |
13,900 |
-22 |
-350 |
|
Iskenderun |
8 mm |
660 |
13,900 |
-26 |
-450 |
|
Iskenderun |
10 mm |
656 |
13,800 |
-26 |
-450 |
|
Iskenderun |
12 mm |
651 |
13,700 |
-26 |
-450 |
|
Izmir |
8 mm |
651 |
13,700 |
-23 |
-400 |
|
Izmir |
10 mm |
646 |
13,600 |
-24 |
-400 |
|
Izmir |
12 mm |
641 |
13,500 |
-24 |
-400 |
|
Karabuk |
8 mm |
660 |
13,900 |
-24 |
-400 |
|
Karabuk |
12 mm |
651 |
13,700 |
-23 |
-400 |
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 17.84