Turkish domestic rebar spot prices rebound

Today, August 25, Turkish domestic rebar spot prices have increased by TRY 100-300/mt ($3-13/mt) compared to Tuesday, August 23, against the backdrop of the currency fluctuations and the surprise ex-US scrap deal in Turkey. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 13,700-14,000/mt or $639-653/mt ex-warehouse, depending on the region.

The general producers’ rebar price range varies at $640-670/mt ex-works in the Marmara and Izmir region, while additional discount is available for serious buyers. Kardemir has issued its rebar prices at TRY 11,695/mt ($644/mt) ex-works. The mill’s rebar price is close to the lower end of the general rebar price range in the Izmir and Karabuk region. However, only small tonnage of rebar sale has been confirmed by the time of publication.

In the Iskenderun region, Koc Metallurgy has closed its rebar sales until Monday, August 29.

In the Samsun region, Yesilyurt Metallurgy has closed its rebar sales until Monday, August 29.

Most local traders recently start restocking material amid the possibility of lack of supply due to the maintenance process or production stoppage in September, contributed by the rapid currency fluctuations.

As of today, rebar offers in the Turkish spot market are as follows:

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 18.17