Today, November 18, Turkish domestic rebar spot prices have increased further by TRY 350/mt over the day, while falling by $3-5/mt against the backdrops of the currency fluctuations as the exchange rate recently hit $1 = TRY 10.93 in the afternoon. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 9,400-9,550/mt or $729-740/mt ex-warehouse, depending on the region.
Most Izmir and Marmara-based mills are currently offering rebar at $745-750/mt ex-works today. Some local traders restock some tonnages, benefitting from rapid currency fluctuations after Turkish Central Bank’s interest rate cut to 15 percent today, while some local traders are refraining from new purchases for now.
By the time of publication, the exchange rate started testing $1 = TRY 11.15, as a result the local rebar spot prices are expected to be revised tomorrow once again.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
17.11.2021 |
17.11.2021 |
||||
|
Marmara |
8 mm |
742 |
9,570 |
-4 |
+350 |
|
Marmara |
12 mm |
740 |
9,550 |
-4 |
+350 |
|
Iskenderun |
8 mm |
731 |
9,430 |
-3 |
+350 |
|
Iskenderun |
10 mm |
730 |
9,415 |
-3 |
+350 |
|
Iskenderun |
12 mm |
729 |
9,400 |
-3 |
+350 |
|
Izmir |
8 mm |
742 |
9,570 |
-4 |
+350 |
|
Izmir |
10 mm |
741 |
9,560 |
-4 |
+350 |
|
Izmir |
12 mm |
740 |
9,550 |
-4 |
+350 |
|
Karabuk |
8 mm |
738 |
9,520 |
-4 |
+350 |
|
Karabuk |
12 mm |
737 |
9,500 |
-3 |
+350 |
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 10.93