Today, May 16, Turkish domestic rebar spot prices have decreased by TRY 100/mt ($2/mt) amid the ongoing currency fluctuations and sluggish demand in the Marmara and Izmir regions, while remaining unchanged in the rest of the country, as compared to Monday, May 13. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,600-23,500/mt or $585-608/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 32.20.
Icdas has kept its official dollar-based rebar price stable at $620/mt ex-works today, while the workable rebar prices in the Izmir and Marmara regions vary at $585-605/mt ex-works for serious buyers, SteelOrbis has heard.
One Iskenderun-based mill has kept its rebar price at TRY 23,500/mt ($608/mt) ex-works today.
Most local buyers are in wait-and-see mode ahead of the Turkish Central Bank's interest rate decision due on Thursday, May 23.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
13.05.2024 |
13.05.2024 |
||||
Marmara |
8 mm |
624 |
24,100 |
-2 |
-100 |
Marmara |
12 mm |
598 |
23,100 |
-2 |
-100 |
Iskenderun |
8 mm |
634 |
24,500 |
0 |
0 |
Iskenderun |
10 mm |
629 |
24,300 |
0 |
0 |
Iskenderun |
12 mm |
608 |
23,500 |
0 |
0 |
Izmir |
8 mm |
611 |
23,600 |
-2 |
-100 |
Izmir |
10 mm |
606 |
23,400 |
-2 |
-100 |
Izmir |
12 mm |
585 |
22,600 |
-2 |
-100 |
Karabuk |
8 mm |
616 |
23,800 |
0 |
0 |
Karabuk |
12 mm |
590 |
22,800 |
0 |
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 32.20