Turkish domestic rebar spot prices mostly stable

Today, October 3, Turkish domestic rebar spot prices have risen by TRY 100/mt ($3-4/mt) in the Izmir region amid the ongoing currency fluctuations and limited supply, while remaining stable in the local currency elsewhere in the country with just minor changes on US dollar basis, as compared to October 2.  Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 25,300-26,200/mt or $617-639/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 34.17.

The workable rebar prices in the Marmara and Izmir regions vary at $620-635/mt, including prices from Icdas A.S., for serious buyers and cash payment only. One Marmara-based mill has hiked its rebar list price by $5/mt to $635/mt ex-works today. In addition, one Izmir-based mill has issued its rebar price today at $620/mt ex-works. According to sources, a total of around 50,000 mt of rebar was traded at TRY 24,600/mt ($600/mt), including VAT, in the Izmir region in the first half of this week. In addition, the sale of a small tonnage of rebar was concluded at TRY 25,800/mt ($629/mt) including VAT in the Marmara region. These rebar sales have been calculated with an estimated exchange rate of $1 = TRY 34.20. They have not been officially confirmed by the time of publication.

One Iskenderun-based mill has kept its rebar price at TRY 26,250/mt ($640/mt) ex-works today.

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 34.17