Turkish domestic rebar spot prices increase sharply

Today, December 7, Turkish domestic rebar spot prices have increased by TRY 300-700/mt ($8-19/mt) compared to Monday, December 4, against the backdrop of the ongoing currency fluctuations and costlier scrap and billet. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 21,000-21,800/mt or $605-628/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 28.93.

Icdas has issued its official dollar-based rebar price at $610/mt ex-works today. The general rebar price range in the Marmara and Izmir regions varies at $605-630/mt, versus $595-620/mt ex-works at the beginning of this week.

One Iskenderun-based mill has issued its rebar price at TRY 21,800/mt ex-works, equal to $628/mt ex-works at the current exchange rate. In addition, another mill in the region is offering rebar at TRY 22,000/mt ($634/mt) ex-works. Sources report a few re-rollers in this region are offering rebar at TRY 21,700-21,800/mt ($625-628/mt) ex-warehouse. 

One Samsun-based mill has opened its rebar sales today at TRY 22,000/mt ($634/mt) ex-works.

" We are monitoring the sharp increase in longs prices and the import scrap price trend," one source commented. Most buyers are taking their time before concluding new purchases due to the unclear financial situation in the country.

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 28.93