Today, September 21, Turkish domestic rebar spot prices have fallen by TRY 50/mt ($3-4/mt) in the Iskenderun region, while rebar spot prices in most of the country have remained unchanged in the local currency with minor changes on US dollar basis amid ongoing currency fluctuations and sluggish demand, as compared to Tuesday, September 19. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,500-18,750/mt or $568-576/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 27.12.
The Turkish Central Bank has decided to raise interest rates from 25 percent to 30 percent today. As a result, a few local traders are expected to increase their rebar spot prices further early next week in order to be on the safe side amid the currency fluctuations.
Icdas has kept its official dollar-based rebar price stable at $590/mt ex-works today. Most Izmir and Marmara-based mills are offering official rebar prices at $570-580/mt ex-works. Sources report that the workable rebar price is at around $570/mt ex-works.
In the Iskenderun region, a few re-rollers are offering rebar at TRY 18,700-18,900/mt ($575-581/mt) ex-warehouse, SteelOrbis has heard.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
19.09.2023 |
19.09.2023 |
||||
|
Marmara |
8 mm |
593 |
19,300 |
-2 |
0 |
|
Marmara |
12 mm |
575 |
18,700 |
-1 |
0 |
|
Iskenderun |
8 mm |
595 |
19,350 |
-3 |
-50 |
|
Iskenderun |
10 mm |
588 |
19,150 |
-4 |
-50 |
|
Iskenderun |
12 mm |
576 |
18,750 |
-3 |
-50 |
|
Izmir |
8 mm |
587 |
19,100 |
-2 |
0 |
|
Izmir |
10 mm |
581 |
18,900 |
-1 |
0 |
|
Izmir |
12 mm |
568 |
18,500 |
-2 |
0 |
|
Karabuk |
8 mm |
593 |
19,300 |
-2 |
0 |
|
Karabuk |
12 mm |
575 |
18,700 |
-1 |
0 |
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 27.12