Turkish domestic rebar spot prices increase once again

Friday, 23 October 2020 17:22:33 (GMT+3)   |   Istanbul
       

Today, October 23, Turkish domestic rebar spot prices have increased by another TRY 20-60/mt ($2-7/mt), due to costlier scrap. Accordingly, 12 mm spot rebar prices have settled within the range of TRY 4,190-4,230/mt ($446-450/mt) ex-warehouse, depending on the region.

Today, İçdaş has kept its rebar price at TRY 4,280/mt ($456/mt) ex-works.

Sources report that trading activity has improved after the Turkish Central Bank’s announcement of unchanged interest rates yesterday. Slightly above 40,000 mt of rebar were traded in the Izmir region at TRY 4,180-4,210/mt ($445-448/mt) ex-works yesterday. Moreover, approximately 4,000 mt of rebar have been traded in the Marmara region at TRY 4,275/mt( $455/mt) ex-works today.

Local Turkish demand seems to be increasing due to costlier scrap and the currency fluctuations seen as the week ends.

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)

22.10.2020

22.10.2020

Marmara

8 mm

452

4,250

+2

+20

Marmara

12 mm

450

4,230

+2

+20

Iskenderun

8 mm

448

4,210

+6

+60

Iskenderun

10 mm

447

4,195

+7

+60

Iskenderun

12 mm

445

4,180

+6

+60

Izmir

8 mm

448

4,210

+2

+20

Izmir

10 mm

447

4,200

+2

+20

Izmir

12 mm

446

4,190

+2

+20

Karabuk

8 mm

449

4,220

+5

+50

Karabuk

12 mm

447

4,200

+5

+50

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 7. 96


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