Turkish domestic rebar spot prices revised to offset currency fluctuations

As of today, May 22, Turkish domestic rebar spot prices have declined by TRY 100/mt ($3/mt) in the Izmir and Karabuk regions, while rising by TRY 100/mt with minor changes on US dollar basis in the rest of the country, amid the ongoing currency fluctuations and limited supply in the Marmara region, compared to Tuesday, May 20. One Marmara-based mill has closed its rebar sales until Monday, May 26. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 25,600-26,100/mt or $548-559/mt, ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 38.92.

The official rebar prices in the Marmara and Izmir regions vary at $560-570/mt ex-works, including Icdas A.S.’s prices, up by $5/mt on the higher end over the same period, while the workable rebar prices in these regions vary at $550-560/mt ex-works, also stable over the same period, for cash payment only. One Izmir-based mill has issued its rebar price at TRY 25,800/mt ($553/mt) ex-works today. 

One Iskenderun-based mill issued its official rebar price today at TRY 26,100/mt ($559/mt) ex-works. Sources report that the workable rebar price in this region stands at around TRY 25,800-26,000/mt ($552-557/mt) ex-works for serious buyers.

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 20 percent VAT, while prices on US dollar basis exclude VAT.

$1 = TRY 38.92