Today, September 4, Turkish domestic rebar spot prices have mostly fallen by TRY 200-300/mt ($8-11/mt) except in the Iskenderun region where rebar spot prices have remained unchanged in the local currency with minor changes on US dollar basis, as compared to Thursday, August 31, against the backdrop of ongoing currency fluctuations and sluggish demand. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,400-18,700/mt or $573-582/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 26.78.
Icdas has kept its official dollar-based rebar price stable at TRY 18,950/mt ($590/mt) ex-works today. Sources report the general official rebar price range varies at $580-595/mt ex-works, while even $580/mt ex-works is difficult to achieve so far. One Iskenderun-based mill has issued its rebar price at TRY 18,650/mt ($580/mt) ex-works today. Most local traders are exerting pressure on mills for additional discounts and are attempting to destock material while applying aggressive pricing policies. Demand is generally quiet as the week begins.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
31.08.2023 |
31.08.2023 |
||||
|
Marmara |
8 mm |
601 |
19,300 |
-8 |
-200 |
|
Marmara |
12 mm |
582 |
18,700 |
-8 |
-200 |
|
Iskenderun |
8 mm |
601 |
19,300 |
-1 |
0 |
|
Iskenderun |
10 mm |
594 |
19,100 |
-2 |
0 |
|
Iskenderun |
12 mm |
582 |
18,700 |
-2 |
0 |
|
Izmir |
8 mm |
591 |
19,000 |
-11 |
-300 |
|
Izmir |
10 mm |
585 |
18,800 |
-11 |
-300 |
|
Izmir |
12 mm |
573 |
18,400 |
-11 |
-300 |
|
Karabuk |
8 mm |
597 |
19,200 |
-8 |
-200 |
|
Karabuk |
12 mm |
579 |
18,600 |
-8 |
-200 |
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 26.78