Today, September 19, Turkish domestic rebar spot prices have increased by TRY 200-400/mt ($4-9/mt) amid the ongoing currency fluctuations and the relatively positive sentiment in the import scrap segment, as compared to Monday, September 16. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 24,100-24,900/mt or $591-610/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 34.00.
The workable rebar prices in the Izmir and Marmara regions vary at $590-610/mt, versus $585-600/mt ex-works at the beginning of this week, including prices from Icdas A.S., for serious buyers and cash payment only. On the other hand, most buyers are exerting pressure for additional discounts.
One Iskenderun-based mill has issued its rebar price at TRY 24,750/mt ($607/mt) ex-works today. The Turkish Central Bank has kept its interest rate at 50 percent today.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
16.09.2024 |
16.09.2024 |
||||
Marmara |
8 mm |
630 |
25,700 |
+7 |
+300 |
Marmara |
12 mm |
605 |
24,700 |
+6 |
+300 |
Iskenderun |
8 mm |
635 |
25,900 |
+7 |
+300 |
Iskenderun |
10 mm |
630 |
25,700 |
+7 |
+300 |
Iskenderun |
12 mm |
610 |
24,900 |
+6 |
+300 |
Izmir |
8 mm |
615 |
25,100 |
+4 |
+200 |
Izmir |
10 mm |
610 |
24,900 |
+4 |
+200 |
Izmir |
12 mm |
591 |
24,100 |
+5 |
+200 |
Karabuk |
8 mm |
625 |
25,500 |
+9 |
+400 |
Karabuk |
12 mm |
600 |
24,500 |
+9 |
+400 |
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 34.00
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