Turkish domestic rebar spot prices rise as week begins

As of today, July 21, Turkish domestic rebar spot prices have risen by TRY 200-500/mt ($2-9/mt) against the backdrop of the ongoing currency fluctuations, compared to Thursday, July 17. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 25,800-26,500/mt or $532-547/mt, ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 40.38.

The official rebar prices in the Marmara and Izmir regions vary at $535-560/mt ex-works, including Icdas A.S.’s prices, up by $5/mt on the lower end as compared to July 17, while the workable rebar prices in these regions vary at $530-550/mt ex-works, stable over the same period, for cash payment only. 

One Iskenderun-based mill has issued its official rebar price today at TRY 26,750/mt ($552/mt) ex-works. Sources report a few re-rollers in this region are offering rebar at around TRY 26,150-26,400/mt ($540-545/mt) ex-warehouse today, for serious buyers. In addition, a few re-rollers have today set their 10 mm and 8 mm size conversion costs to TRY 1,000/mt ($21/mt) and TRY 1,200/mt ($25/mt), respectively.

One Samsun-based mill has extended the closure of its rebar sales until Monday, July 28. In addition, today the mill has set its 10 mm and 8 mm size conversion costs to TRY 1,200/mt ($25/mt) and TRY 1,400/mt ($29/mt), respectively.

Most local buyers are still in wait-and-see mode until the Turkish Central Bank announces its decision on interest rates on Thursday, July 24.

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 40.38