Turkish domestic rebar spot prices mostly decline in local currency

Wednesday, 06 January 2021 16:42:52 (GMT+3)   |   Istanbul
       

Today, January 6, spot prices in the local Turkish rebar market have decreased by TRY 20-50/mt  on lira basis except for the Karabuk region, with minor changes on US dollar basis amid currency fluctuations, as compared to Monday, January 4.  As of today, 12 mm rebar spot prices in Turkey have settled at TRY 5,450,-5,580/mt or $629-644/mt ex-warehouse depending on the region.

Most Marmara-based mills are currently offering rebar at TRY 5,610-5,715/mt ($648-660/mt) ex-works, down by TRY 25/mt on the higher end, up by $3/mt on the lower end.

In the Izmir region, most mills are currently offering rebar at TRY 5,545-5,585 /mt ($640-645/mt) ex-works, down by TRY 20-25/mt in the local currency and stable on US dollar basis over the same period. Sources report that one mill in this region has closed its rebar sales after trading approximately 20,000-30,000 mt of rebar at TRY 5,545/mt ($640/mt) ex-works today.

However, some local rebar buyers are in wait-and-see mode in order to gain a better understanding of the market situation and the price prospects in the import scrap segment.

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)

4.01.2021

4.01.2021

Marmara

8 mm

647

5,600

+1

-20

Marmara

12 mm

644

5,580

0

-20

Iskenderun

8 mm

633

5,480

-3

-50

Iskenderun

10 mm

631

5,465

-3

-50

Iskenderun

12 mm

629

5,450

-3

-50

Izmir

8 mm

642

5,560

0

-20

Izmir

10 mm

641

5,550

+1

-20

Izmir

12 mm

640

5,540

+1

-20

Karabuk

8 mm

647

5,600

+3

0

Karabuk

12 mm

644

5,580

+2

0

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 7.34


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