Turkish domestic rebar spot prices move down

Tuesday, 09 March 2021 17:16:12 (GMT+3)   |   Istanbul
       

Today, March 9, spot prices in the Turkish domestic rebar market have moved down by TRY 20-40/mt due to the appreciation of the Turkish lira against the US dollar, which has resulted in diverse trends on US dollar basis. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 5,700-5,760/mt or $631-637/mt ex-warehouse, depending on the region.

Icdas increased its rebar price in the local currency by TRY 90/mt to TRY 5,800/mt ($645/mt at $1 = TRY 7.62) at noon today. However, it is learned that the producer subsequently issued its rebar price at $640/mt ex-works amid the sharp fluctuations recorded in the exchange rate. Another Marmara-based mill has set its rebar price at $655/mt ex-works today.

One mill in the Izmir region is offering rebar at TRY $645/mt ex-works. According to market sources, two mills in the region were offering discounts for large tonnages to around $640/mt ex-works.

In the Samsun region, Yesilyurt A.S. has set its rebar price today at $650/mt ex-works. In the Karabuk region, Yolbulan A.S. opened its rebar sales at TRY 5,800 ($642/mt at $1= TRY 7.66), though the mill was willing to cut its prices for large tonnages.

Having experienced a lively day yesterday in terms of trading, the Turkish rebar market has been silent today as the exchange rate fluctuations have caused buyers to lose appetite.

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)

8.03.2021

8.03.2021

Marmara

8 mm

639

5,780

-2

-40

Marmara

12 mm

637

5,760

-1

-40

Iskenderun

8 mm

634

5,730

+1

-20

Iskenderun

10 mm

632

5,715

+1

-20

Iskenderun

12 mm

631

5,700

+1

-20

Izmir

8 mm

635

5,740

0

-30

Izmir

10 mm

634

5,730

0

-30

Izmir

12 mm

633

5,720

0

-30

Karabuk

8 mm

634

5,730

0

-30

Karabuk

12 mm

632

5,710

0

-30

 

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 7.66


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