Turkish domestic rebar spot prices follow diverse trends

Monday, 14 March 2022 17:24:08 (GMT+3)   |   Istanbul
       

Today, March 14, Turkish domestic rebar spot prices have increased by TRY 50/mt ($11/mt) in the Marmara region, while remaining unchanged in local currency in the Izmir and Karabuk regions, and rising by $8/mt on US dollar basis in both regions. In addition, rebar spot prices have fallen by TRY 200/mt ($3-4/mt) in the Iskenderun region amid currency fluctuations and slow trading activity. A few local traders in the Iskenderun region are applying an aggressive pricing policy to generate sales. Moreover, most local traders in a wait-and-see mode until the interest rate announcement by Turkey’s central bank due on Thursday, March 17. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 15,800-16,250/mt or $906-932/mt ex-warehouse, depending on the region.

Most mills in the Izmir and Marmara regions are currently offering rebar at $950-960/mt ex-works, following Icdas’s recent rebar price hike by $10/mt to $950/mt ex-works.

In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 16,300/mt ($935/mt) ex-works today.

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)

10.03.2022

10.03.2022

Marmara

8 mm

943

16,450

+11

+50

Marmara

12 mm

932

16,250

+11

+50

Iskenderun

8 mm

917

16,000

-4

-200

Iskenderun

10 mm

912

15,900

-3

-200

Iskenderun

12 mm

906

15,800

-3

-200

Izmir

8 mm

929

16,200

+8

0

Izmir

10 mm

923

16,100

+8

0

Izmir

12 mm

917

16,000

+8

0

Karabuk

8 mm

929

16,200

+8

0

Karabuk

12 mm

917

16,000

+8

0

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 14.78


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