Turkish domestic rebar spot prices increase amid stronger scrap

Today, April 7, rebar spot prices in Turkey have increased by TRY 40-80/mt in the local currency with minor changes on US basis, as compared to Monday, April 5, amid currency fluctuations and the positive sentiment in the import scrap market. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 5,880-5,940/mt or $609-615/mt ex-warehouse, depending on the region. Local traders in the Iskenderun region have increased their rebar prices by a higher margin than the other regions due to the positive sentiment that local rebar prices may gain momentum after the costlier scrap seen in the last couple of deals. In addition, most rebar buyers have started to exert pressure for discounts to all mills, after Kardemir’s competitive rebar prices which has announced today.

Icdas has kept its rebar price at $620/mt ex-works at the current exchange rate. Moreover, most mills in the Marmara region are currently offering rebar list prices at $630/mt ex-works.

In the Izmir region, Izmir Demir Celik(IDC) is currently offering rebar at $630/mt ex-works. However, most rebar buyers are exerting pressure for discounts after Kardemir’s competitive rebar prices which were announced today, Sources report that one Izmir-based mill is also offering rebar at TRY 5,920/mt ($613/mt) ex-works.

In the Iskenderun region, Bastug Metallurgy has opened its rebar sales at TRY 5,950/mt ($616/mt) ex-works today.

In the Samsun region, Yesilyurt A.S. has opened its rebar sales at TRY 6,050/mt ($627/mt) ex-works, stable on lira basis and down by $4/mt in dollars over the same period

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 8.18