Today, December 3, Turkish domestic rebar spot prices have increased by another TRY 200-300/mt, with minor changes on US dollar basis, amid the depreciation of the Turkish lira against the US dollar and the negative sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 11,600-11,850/mt or $713-729/mt ex-warehouse, depending on the region. The average exchange rate was at $1 = TRY 13.44 yesterday.
Most Turkish suppliers have kept their official rebar prices unchanged at $740-750/mt ex-works. According to sources $5-10/mt discounts are on the table for serious buyers to support local buyers from currency fluctuations. Most local traders are monitoring currency fluctuations closely and are exerting pressure for further discounts. Turkish mills are expected to revise their official rebar offers by early next week amid the negative sentiment in the import scrap segment.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
2.12.2021 |
2.12.2021 |
||||
|
Marmara |
8 mm |
730 |
11,870 |
-3 |
+250 |
|
Marmara |
12 mm |
729 |
11,850 |
-2 |
+250 |
|
Iskenderun |
8 mm |
715 |
11,630 |
-6 |
+200 |
|
Iskenderun |
10 mm |
714 |
11,615 |
-6 |
+200 |
|
Iskenderun |
12 mm |
713 |
11,600 |
-6 |
+200 |
|
Izmir |
8 mm |
727 |
11,820 |
+1 |
+300 |
|
Izmir |
10 mm |
726 |
11,810 |
0 |
+300 |
|
Izmir |
12 mm |
726 |
11,800 |
+1 |
+300 |
|
Karabuk |
8 mm |
727 |
11,820 |
+1 |
+300 |
|
Karabuk |
12 mm |
726 |
11,800 |
+1 |
+300 |
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.
:The average indicated exchange rate is taken into account for today’s analysis, as the exchange rate has lately been above $1 = TRY 13.80.
$1 = TRY 13.78