Turkish domestic rebar spot prices mostly decrease

Thursday, 25 March 2021 17:41:27 (GMT+3)   |   Istanbul
       

Today, March 25, rebar spot prices in Turkey have moved down by TRY 20-50/mt ($9-14/mt) except for the Marmara region, as compared to two days ago. The key factor is the unstable exchange rate which has resulted in a considerable weakening of demand. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 5,520-5,620/mt or $585-595/mt ex-warehouse, depending on the region.

Icdas has kept its rebar price at $620/mt ex-works at the current exchange rate, stable on US dollar basis since the beginning of this week. Most mills in the Marmara and Izmir regions are currently offering list rebar prices at $620-625/mt ex-works.

According to sources, one Izmir-based mill has sold around 10,000-20,000 mt of rebar at $600/mt ex-works today, though this has not been officially confirmed by the time of publication. “Some local traders in the Izmir region are having difficulties selling at TRY 5,500/mt ($583/mt) ex-warehouse for serious buyers, and so this rebar price [$600/mt ex-works] seem a bit high for a sale by a mill,” a source mentioned.

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)

23.03.2021

23.03.2021

Marmara

8 mm

597

5,640

-9

0

Marmara

12 mm

595

5,620

-9

0

Iskenderun

8 mm

588

5,550

-13

-50

Iskenderun

10 mm

586

5,535

-14

-50

Iskenderun

12 mm

585

5,520

-13

-50

Izmir

8 mm

590

5,570

-10

-20

Izmir

10 mm

589

5,560

-10

-20

Izmir

12 mm

588

5,550

-10

-20

Karabuk

8 mm

588

5,550

-10

-20

Karabuk

12 mm

586

5,530

-10

-20

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 8.00


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