Turkish domestic rebar spot prices increase further

Today, January 11, Turkish domestic rebar spot prices have increased by TRY 200-400/mt ($3-9/mt), compared to Monday, January 8, against the backdrop of the ongoing currency fluctuations and the higher import scrap prices. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,400-22,800/mt or $622-633/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 30.00.

Icdas has kept its official dollar-based rebar price at $630/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions now varies at $620-645/mt, rising by $10/mt on the higher end compared to the beginning of this week. However, the workable rebar price range seems close to the lower end of the range. Although there are rumors circulating of a small rebar sale concluded at $617-620/mt ex-works in the Izmir region at the beginning of this week, no tonnage was confirmed by the time of publication.

One Iskenderun-based mill is offering rebar at TRY 22,750/mt ($632/mt) ex-works.

Most local buyers are monitoring the import scrap and billet price trends and are not rushing to restock material.

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 30.00