Today, September 22, Turkish domestic rebar spot prices have risen by TRY 400-600/mt ($15-25/mt) as compared to a week ago. The main reasons are rapid currency fluctuations and Icdas’s latest rebar price hike. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,850-15,200/mt or $685-701/mt ex-warehouse, depending on the region.
Icdas A.S. has hiked its rebar price by $10/mt to $700/mt ex-works. Most mills in the Marmara region are also offering the same price today. According to sources, the sale of a lot of around 30,000-40,000 mt of rebar has been rumored at $665-670/mt ex-works in the Izmir region, while a small tonnage of rebar is rumored to have been sold at slightly above $670/mt ex-works in the Marmara region yesterday. The Turkish Central Bank has cut its interest rate from 13 percent to 12 percent today. As a result, the depreciation of the Turkish lira against the US dollar continues, which exerts additional pressure on buyers.
In the Iskenderun region, Bastug Metallurgy has opened its rebar sales at TRY 15,550/mt ($717/mt) ex-works, while one re-roller in the region is offering rebar at TRY 15,500/mt ($715/mt) ex-warehouse today.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
15.09.2022 |
15.09.2022 |
||||
Marmara |
8 mm |
701 |
15,200 |
+20 |
+500 |
Marmara |
12 mm |
692 |
15,000 |
+20 |
+500 |
Iskenderun |
8 mm |
710 |
15,400 |
+24 |
+600 |
Iskenderun |
10 mm |
706 |
15,300 |
+25 |
+600 |
Iskenderun |
12 mm |
701 |
15,200 |
+24 |
+600 |
Izmir |
8 mm |
694 |
15,050 |
+22 |
+550 |
Izmir |
10 mm |
690 |
14,950 |
+22 |
+550 |
Izmir |
12 mm |
685 |
14,850 |
+22 |
+550 |
Karabuk |
8 mm |
697 |
15,100 |
+16 |
+400 |
Karabuk |
12 mm |
687 |
14,900 |
+15 |
+400 |
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 18.37