Today, February 22, Turkish domestic rebar spot prices have remained stable on Turkish lira basis in the Iskenderun and Karabuk regions with only a decrease of $2-3/mt on US dollar basis, while rebar spot prices in the Izmir and Marmara have decreased by TRY 100-300/mt ($5-11/mt), all as compared to Monday, February 19. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,700-23,500/mt or $610-632/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 31,00.
Icdas has kept its official dollar-based rebar price stable at $640/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions varies at $615-640/mt ex-works amid the negative sentiment in the import scrap segment. According to sources, the workable rebar price stands at $610-630/mt ex-works.
One Iskenderun-based mill is offering its rebar price at TRY 24,000/mt ($645/mt) ex-works today.
Turkey’s central bank has kept interest rates stable at 45 percent today.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
19.02.2024 |
19.02.2024 |
||||
Marmara |
8 mm |
648 |
24,100 |
-5 |
-100 |
Marmara |
12 mm |
621 |
23,100 |
-5 |
-100 |
Iskenderun |
8 mm |
659 |
24,500 |
-2 |
0 |
Iskenderun |
10 mm |
653 |
24,300 |
-3 |
0 |
Iskenderun |
12 mm |
632 |
23,500 |
-2 |
0 |
Izmir |
8 mm |
637 |
23,700 |
-11 |
-300 |
Izmir |
10 mm |
632 |
23,500 |
-10 |
-300 |
Izmir |
12 mm |
610 |
22,700 |
-11 |
-300 |
Karabuk |
8 mm |
645 |
24,000 |
-3 |
0 |
Karabuk |
12 mm |
618 |
23,000 |
-3 |
0 |
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 31.00
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