Today, August 17, Turkish domestic rebar spot prices have decreased by TRY 300/mt ($14-15/mt) compared to Monday, August 15, amid currency fluctuations and pessimistic sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 13,500-13,800/mt or $637-651/mt ex-warehouse, depending on the region.
Most mills in the Marmara and Izmir regions are attempting to keep their official rebar prices stable at $660-670/mt ex-works, while some local traders are destocking material against the backdrop of slow trading activity and to be on the safe side if local rebar prices might decrease in the short term. The Turkish Central Bank’s interest rate decision due tomorrow is also another important issue for buyers.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
15.08.2022 |
15.08.2022 |
||||
Marmara |
8 mm |
660 |
14,000 |
-15 |
-300 |
Marmara |
12 mm |
651 |
13,800 |
-14 |
-300 |
Iskenderun |
8 mm |
660 |
14,000 |
-15 |
-300 |
Iskenderun |
10 mm |
656 |
13,900 |
-14 |
-300 |
Iskenderun |
12 mm |
651 |
13,800 |
-14 |
-300 |
Izmir |
8 mm |
646 |
13,700 |
-15 |
-300 |
Izmir |
10 mm |
641 |
13,600 |
-15 |
-300 |
Izmir |
12 mm |
637 |
13,500 |
-14 |
-300 |
Karabuk |
8 mm |
651 |
13,800 |
-14 |
-300 |
Karabuk |
12 mm |
641 |
13,600 |
-15 |
-300 |
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 17.97