Today, October 23, Turkish domestic rebar spot prices have fallen by TRY 100-200/mt ($4-7/mt) against the backdrop of ongoing currency fluctuations and sluggish demand, as compared to Thursday, October 19. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,400-18,900/mt or $547-561/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 28.05.
Icdas has kept its official dollar-based rebar price at $570/mt ex-works today. Most Izmir and Marmara-based mills are offering official rebar prices at $550-570/mt ex-works, falling by $5/mt on the lower end over the same period. Sources report the workable rebar price is close to the lower end. One Marmara-based mill plans to stop production by the middle of this week. As a result, its official rebar price is a little higher than those of the other Marmara-based mills.
One Iskenderun-based mill is offering official rebar price at TRY 19,000/mt ($564/mt) ex-works today. Another re-roller in this region is also offering the same price, SteelOrbis has heard.
Most local buyers are taking their time as regards restocking ahead of the Turkish Central Bank interest rate decision due Thursday, October 26.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
19.10.2023 |
19.10.2023 |
||||
|
Marmara |
8 mm |
576 |
19,400 |
-7 |
-200 |
|
Marmara |
12 mm |
559 |
18,800 |
-6 |
-200 |
|
Iskenderun |
8 mm |
579 |
19,500 |
-4 |
-100 |
|
Iskenderun |
10 mm |
573 |
19,300 |
-4 |
-100 |
|
Iskenderun |
12 mm |
561 |
18,900 |
-4 |
-100 |
|
Izmir |
8 mm |
564 |
19,000 |
-7 |
-200 |
|
Izmir |
10 mm |
559 |
18,800 |
-6 |
-200 |
|
Izmir |
12 mm |
547 |
18,400 |
-7 |
-200 |
|
Karabuk |
8 mm |
570 |
19,200 |
-7 |
-200 |
|
Karabuk |
12 mm |
553 |
18,600 |
-7 |
-200 |
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 28.05