Turkish domestic rebar spot prices follow diverse trends

As of today, February 24, Turkish domestic rebar spot prices have risen by TRY 200-300/mt ($2-5/mt) in the Karabuk and Iskenderun regions against the backdrop of ongoing currency fluctuations and the relatively positive sentiment in the import scrap segment, while prices have remained stable in the local currency in the rest of the country, with minor changes on US dollar basis, compared to Thursday, February 20. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,900-24,400/mt or $546-558/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 36.45.

The official rebar prices in the Marmara and Izmir regions vary at $550-580/mt ex-works, including Icdas A.S.’s prices, down by $10/mt on the lower end, while the workable rebar prices in these regions still vary at $545-570/mt, versus $550-565/mt ex-works on February 20, for cash payment only. Moreover, one Marmara-based mill has kept its rebar sales closed during the period in question.

Mills' official rebar prices in the Iskenderun region vary at TRY 24,500-24,900/mt ($560-569/mt) ex-works, up by TRY 200-300/mt ($2-4/mt) over the same period.

Most local traders are in wait-and-see mode ahead of Ramadan.

One Samsun-based mill has issued its rebar price at TRY 25,300/mt ($578/mt) ex-works after a long break.

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 20 percent VAT, while prices on US dollar basis exclude VAT.

$1 = TRY 36.45