Today, November 24, Turkish domestic rebar spot prices have risen by TRY 1,050-1,200/mt ($6-11/mt) compared to Monday, November 22, amid currency fluctuations. Local rebar spot market transactions were at a standstill due to the sharp depreciation of Turkish lira against the US dollar yesterday. Also, the average indicated exhange rate is taken into account for today’s analysis, as the exchange rate is extremely fragile these days. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 10,800-11,000/mt or $735-748/mt ex-warehouse, depending on the region.
Most Turkish mills are quoting on dollar basis and the general rebar price range still varies at $745-750/mt ex-works at the current exchange rate. According to sources, some tonnages were traded at around $735-740/mt ex-works last week, while these prices are not on the table now amid the firmness of import scrap prices and higher production costs this week.
In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 11,000/mt ($748/mt) ex-works today.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
22.11.2021 |
22.11.2021 |
||||
|
Marmara |
8 mm |
750 |
11,020 |
+7 |
1,150 |
|
Marmara |
12 mm |
748 |
11,000 |
+7 |
1,150 |
|
Iskenderun |
8 mm |
737 |
10,830 |
+6 |
1,120 |
|
Iskenderun |
10 mm |
736 |
10,815 |
+6 |
1,120 |
|
Iskenderun |
12 mm |
735 |
10,800 |
+6 |
1,120 |
|
Izmir |
8 mm |
750 |
11,020 |
+11 |
1,200 |
|
Izmir |
10 mm |
749 |
11,010 |
+11 |
1,200 |
|
Izmir |
12 mm |
748 |
11,000 |
+10 |
1,200 |
|
Karabuk |
8 mm |
739 |
10,870 |
0 |
1,050 |
|
Karabuk |
12 mm |
738 |
10,850 |
0 |
1,050 |
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 12.46