Turkish domestic rebar spot prices rise further

Today, March 3, Turkish domestic rebar spot prices have risen by another TRY 650-900/mt ($34-49/mt) against the backdrop of the positive sentiment in the import scrap and billet segments and ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,400-14,550/mt or $862-871/mt ex-warehouse, depending on the region.

Icdas A.S. has increased its rebar price by another $50/mt to $860/mt ex-works today.  A few mills have closed their rebar sales in the Marmara region. One Marmara-based mill opened its rebar sales at $860/mt ex-works earlier today. One Izmir-based mill opened its rebar sales at $860/mt ex-works, while another mill in the region opened at $850/mt ex-works, raising its rebar price by $10/mt to $860/mt ex-works and closing its rebar sales in the afternoon. According to sources, small tonnages of rebar were traded at $800/mt ex-works in the Izmir region, but this price is not valid now.

In the Iskenderun region, Koc Metallurgy closed its rebar sales after a couple of hours today having opened them at TRY 15,250/mt ($913/mt) ex-works. Another re-roller in the region closed its rebar sales after a couple of hours today having opened at TRY 14,650/mt ($877/mt) ex-warehouse.

In the Samsun region, Yesilyurt Metallurgy opened its rebar sales at TRY 15,000/mt ($898/mt) ex-works and has closed them until Monday, April 25 in order to handle ongoing billet orders.

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

$1 = TRY 14.15