Today, August 7, Turkish domestic rebar spot prices have fallen by TRY 100/mt in the Marmara and Izmir regions, while rising by TRY 100/mt in the rest of the country, with minor changes on US dollar basis, compared to Thursday, August 3, amid sluggish demand and the ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 17,800-18,000/mt or $549-556/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 27.00.
Icdas A.S has cut its official rebar price by $10/mt to $570/mt ex-works today. Sources report that a few mills in the Izmir and Marmara regions are offering official rebar prices at $555-565/mt ex-works, falling by $5/mt over the same period. Following a sale of 20,000 mt of rebar at $545/mt ex-works in the Izmir region last week, most buyers are exerting pressure for further discounts due to sluggish demand, while most Turkish mills are aiming to keep their rebar prices stable given their production costs. In addition, a few mills are applying aggressive pricing strategies and are giving additional discounts up to $10/mt for serious buyers, SteelOrbis has heard.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
3.08.2023 |
3.08.2023 |
||||
|
Marmara |
8 mm |
574 |
18,600 |
-4 |
-100 |
|
Marmara |
12 mm |
556 |
18,000 |
-3 |
-100 |
|
Iskenderun |
8 mm |
574 |
18,600 |
+2 |
+100 |
|
Iskenderun |
10 mm |
568 |
18,400 |
+3 |
+100 |
|
Iskenderun |
12 mm |
556 |
18,000 |
+3 |
+100 |
|
Izmir |
8 mm |
568 |
18,400 |
-4 |
-100 |
|
Izmir |
10 mm |
562 |
18,200 |
-3 |
-100 |
|
Izmir |
12 mm |
549 |
17,800 |
-4 |
-100 |
|
Karabuk |
8 mm |
574 |
18,600 |
+2 |
+100 |
|
Karabuk |
12 mm |
556 |
18,000 |
+3 |
+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 27.00