Turkish domestic rebar spot prices move up

Thursday, 22 September 2022 16:53:26 (GMT+3)   |   Istanbul
       

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


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

US import rebar market remains quiet

26 Mar | Longs and Billet