Today, July 20, Turkish domestic rebar spot prices have risen by TRY 300-400/mt with minor changes on US dollar basis, compared to Monday, July 17, amid the ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,500-18,700/mt or $574-580/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 26.88.
Icdas A.S has kept its official rebar price at $590/mt ex-works today. Sources report that most mills in the Izmir and Marmara regions are offering their list prices at $575-590/mt ex-works, versus $590-600/mt ex-works at the beginning of this week. In addition, one Iskenderun-based mill has kept its rebar price stable at TRY 18,500/mt ($574/mt) ex-works today. Sources report that a few mills in this region are also offering the same price.
The Turkish Central Bank has increased interest rates from 15 percent to 17.5 percent today. Most local traders are taking their time regarding new purchases and are watching to see when import scrap and billet prices hit the bottom.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
17.07.2023 |
17.07.2023 |
||||
|
Marmara |
8 mm |
598 |
19,300 |
-3 |
+300 |
|
Marmara |
12 mm |
580 |
18,700 |
-2 |
+300 |
|
Iskenderun |
8 mm |
595 |
19,200 |
0 |
+400 |
|
Iskenderun |
10 mm |
589 |
19,000 |
0 |
+400 |
|
Iskenderun |
12 mm |
577 |
18,600 |
+1 |
+400 |
|
Izmir |
8 mm |
592 |
19,100 |
-1 |
+350 |
|
Izmir |
10 mm |
586 |
18,900 |
-1 |
+350 |
|
Izmir |
12 mm |
574 |
18,500 |
0 |
+350 |
|
Karabuk |
8 mm |
592 |
19,100 |
-3 |
+300 |
|
Karabuk |
12 mm |
574 |
18,500 |
-2 |
+300 |
All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 20 percent VAT, while prices on US dollar basis exclude VAT.
$1 = TRY 26.88