Today, March 18, spot prices in the Turkish domestic rebar market have moved down by TRY 70-120/mt compared to March 16. The key reason is the currency fluctuation which followed the Central Bank decision today to increase its interest rates. The US dollar equivalent of the rebar prices has seen only minor changes over the given period. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 5,330-5,400/mt or $613-621/mt ex-warehouse, depending on the region.
The general rebar price range in the Marmara and Izmir regions has dropped by $15/mt on the lower end to $620-650/mt ex-works today, with prices still quoted on US dollar basis at the current exchange rate.
In the Samsun region, Yesilyurt A.S. has opened its rebar sales at TRY 5,550/mt ($638/mt) ex-works, down by TRY 150/mt ($7/mt).
Local rebar market prices are expected to become clearer by tomorrow or early next week, while the general sentiment in the market is negative for now.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
16.03.2021 |
16.03.2021 |
||||
|
Marmara |
8 mm |
623 |
5,420 |
-2 |
-100 |
|
Marmara |
12 mm |
621 |
5,400 |
-1 |
-100 |
|
Iskenderun |
8 mm |
616 |
5,360 |
+2 |
-70 |
|
Iskenderun |
10 mm |
615 |
5,345 |
+2 |
-70 |
|
Iskenderun |
12 mm |
613 |
5,330 |
+2 |
-70 |
|
Izmir |
8 mm |
617 |
5,370 |
-4 |
-120 |
|
Izmir |
10 mm |
616 |
5,360 |
-4 |
-120 |
|
Izmir |
12 mm |
615 |
5,350 |
-4 |
-120 |
|
Karabuk |
8 mm |
621 |
5,400 |
-1 |
-100 |
|
Karabuk |
12 mm |
619 |
5,380 |
-1 |
-100 |
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 7.37