Today, September 15, Turkish domestic rebar spot prices have mostly decreased by TRY 50-100/mt ($4-7/mt), compared to Monday, September 12, amid the rapid currency fluctuations and negative sentiment in the import scrap segment, while rebar spot prices only have increased by TRY 100/mt ($3/mt) in the Karabuk region. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,300-14,600/mt or $663-677/mt ex-warehouse, depending on the region.
Most mills in the Marmara and Izmir region are offering official rebar prices at $670-690/mt ex-works. Most local traders are exerting pressure for further discounts however mills are not willing to cut their rebar prices amid costlier production costs. Some local buyers are in a wait and see stance for new purchases until Turkish Central Bank’s interest rate decision due Thursday, September 22 to be on the safe side.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
12.09.2022 |
12.09.2022 |
||||
Marmara |
8 mm |
681 |
14,700 |
-7 |
-100 |
Marmara |
12 mm |
672 |
14,500 |
-6 |
-100 |
Iskenderun |
8 mm |
686 |
14,800 |
-4 |
-50 |
Iskenderun |
10 mm |
681 |
14,700 |
-4 |
-50 |
Iskenderun |
12 mm |
677 |
14,600 |
-4 |
-50 |
Izmir |
8 mm |
672 |
14,500 |
-6 |
-100 |
Izmir |
10 mm |
668 |
14,400 |
-6 |
-100 |
Izmir |
12 mm |
663 |
14,300 |
-6 |
-100 |
Karabuk |
8 mm |
681 |
14,700 |
+3 |
+100 |
Karabuk |
12 mm |
672 |
14,500 |
+3 |
+100 |
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 18.28