Turkish domestic rebar spot prices follow diverse trends

Today, September 5, Turkish domestic rebar spot prices have risen by TRY 100-200/mt ($4-9/mt), compared to Thursday, September 1, amid the firmness of mills’ official rebar prices in the Marmara and Iskenderun regions. The rebar spot prices in the local currency have remained stable in the Izmir and Karabuk regions, with minor changes on US dollar basis to offset the currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,800-15,100/mt or $688-702/mt ex-warehouse, depending on the region.

Most mills in the Marmara and Izmir regions are currently offering their official rebar prices at $700-710/mt ex-works. According to sources, one Izmir-based mill succeeded in selling 30,000- 40,000 mt of rebar at $680-690/mt ex-works ealier today and then increased its rebar price by $20/mt to $700/mt ex-works in the afternoon. However, this has been not confirmed by the time of publication. “The rebar sales volume seems a bit high under the current market conditions” a source mentioned.

In the Izmir region, Izmir Demir Celik has started a temporary shift reduction at its steel mill and rod rolling mill sections against the backdrop of sluggish demand and increasing production costs and unclear economic conditions.

In the Iskenderun region, one Iskenderun-based mill has already started its maintenance works, leading to a lack of supply in the region and local traders in the region have increased rebar spot prices.

As of today, rebar offers in the Turkish spot market are as follows:

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 18.23