Today, September 19, Turkish domestic rebar spot prices have fallen by TRY 100/mt ($5-6/mt) amid the ongoing currency fluctuations and sluggish demand, compared to Thursday, September 14. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,500-18,800/mt or $570-579/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 27.04. A few local traders are applying aggressive pricing policies to generate cash ahead of the Turkish Central Bank's interest rate decision due on Thursday, September 21. Some people believe the interest rate will increase further.
Icdas has kept its official dollar-based rebar price stable at $590/mt ex-works today. Most Izmir and Marmara-based mills are offering official rebar prices at $580-590/mt ex-works, including Icdas A.S. Sources report that the workable rebar price is at $580/mt ex-works.
One Iskenderun-based mill has issued its rebar price at TRY 18,800/mt ($580/mt) ex-works today. The general sentiment on the demand side is negative due to the high interest rates for bank loans, which have squeezed the cash flow in the market.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
14.09.2023 |
14.09.2023 |
||||
|
Marmara |
8 mm |
595 |
19,300 |
-5 |
-100 |
|
Marmara |
12 mm |
576 |
18,700 |
-5 |
-100 |
|
Iskenderun |
8 mm |
598 |
19,400 |
-5 |
-100 |
|
Iskenderun |
10 mm |
592 |
19,200 |
-5 |
-100 |
|
Iskenderun |
12 mm |
579 |
18,800 |
-5 |
-100 |
|
Izmir |
8 mm |
589 |
19,100 |
-5 |
-100 |
|
Izmir |
10 mm |
582 |
18,900 |
-6 |
-100 |
|
Izmir |
12 mm |
570 |
18,500 |
-5 |
-100 |
|
Karabuk |
8 mm |
595 |
19,300 |
-5 |
-100 |
|
Karabuk |
12 mm |
576 |
18,700 |
-5 |
-100 |
All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 20 percent VAT, while prices on US dollar basis exclude VAT.
$1 = TRY 27.04