Turkish domestic rebar spot prices rise further

Today, June 6, Turkish domestic rebar spot prices have risen by TRY 400-600/mt ($5-13/mt) from the previous day, amid the positive sentiment in the import scrap segment, currency fluctuations, and the unclear financial situation in the country. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 16,600-16,800/mt or $650-659/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 21.60.  

Icdas A.S. has kept its official dollar-based rebar price at $650/mt ex-works, with an exchange rate of $1 = TRY 21.52 earlier today. Sources report that a few Marmara-based mills have been offering official rebar prices at TRY 16,400-16,600/mt ($645-650/mt) ex-works, rising by TRY 100-200/mt and down by $5/mt on US dollar basis over the same period. In addition, one Izmir-based mill has kept its official dollar-based rebar price at $650/mt ex-works today. 

One Iskenderun-based mill is offering rebar at TRY 16,250/mt ($638/mt) ex-works today. Another mill in the region was also offering rebar at TRY 16,500/mt ($647/mt) ex-works earlier today.   

Sources report around 10,000 mt of rebar have been traded at TRY 16,400/mt ($645/mt) ex-works and some tonnage has also been traded at TRY 16,600/mt ($650/mt) ex-works in the Marmara region today. In addition, the sale of a lot of around 10,000 mt of rebar has been rumored at TRY 16,500-16,560/mt ($647-650/mt) ex-works in the Izmir region, while the final tonnage has not been confirmed by the time of publication. 

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 21.60