Turkish domestic rebar spot prices mostly stable

Today, June 27, Turkish domestic rebar spot prices have risen by TRY 100/mt ($3/mt) in the Izmir region, while remaining unchanged in the local currency in the rest of the country, against the backdrop of the ongoing currency fluctuations, as compared to Monday, June 24. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,000-24,000/mt or $583-608/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 32.89.

Icdas has kept its official dollar-based rebar price stable today at $620/mt ex-works. In addition, the workable rebar prices in the Izmir and Marmara regions vary at $580-600/mt ex-works, stable over the same period for serious buyers and cash payment only.

One Iskenderun-based mill is still offering its rebar price today at TRY 24,000/mt ($608/mt) ex-works for an extended delivery period. “Due to the rebar sales from the Izmir region to the southeastern region of Turkey, a few local traders in Izmir are attempting to increase their rebar spot sales prices,” one source mentioned. “Generally, rebar prices in the Iskenderun region are somewhat higher than in other regions, while trading activity is still slow,” another source commented.

Turkey’s central bank has kept its interest rate unchanged at 50 percent today in line with most market players' expectations.

As of today, rebar offers in the Turkish spot market are as follows:

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 32.89