Today, December 2, Turkish domestic rebar spot prices have risen by TRY 50-100/mt, down by $3-7/mt on US dollar basis, amid the depreciation of the Turkish lira against the US dollar and the negative sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 11,400-11,600/mt or $719-731/mt ex-warehouse, depending on the region. The average exchange rate was at $1 = TRY 13.26 yesterday.
Most Turkish suppliers have kept their official rebar prices at $740-750/mt ex-works. Additional discounts are applicable for serious buyers amid the unclear financial situation in the country, in order to generate sales.
In the Iskenderun region, a few re-rollers have revised their additional costs for thinner sizes and have started quoting an additional TRY 80/mt for 10 mm size rebar, while the additional cost for 8 mm size stands at TRY 160/mt today.
In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 11,550/mt ($728/mt) ex-works today.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
1.12.2021 |
1.12.2021 |
||||
|
Marmara |
8 mm |
733 |
11,620 |
-3 |
+100 |
|
Marmara |
12 mm |
731 |
11,600 |
-4 |
+100 |
|
Iskenderun |
8 mm |
721 |
11,430 |
-3 |
+100 |
|
Iskenderun |
10 mm |
720 |
11,415 |
-3 |
+100 |
|
Iskenderun |
12 mm |
719 |
11,400 |
-3 |
+100 |
|
Izmir |
8 mm |
726 |
11,520 |
-4 |
+100 |
|
Izmir |
10 mm |
726 |
11,510 |
-3 |
+100 |
|
Izmir |
12 mm |
725 |
11,500 |
-4 |
+100 |
|
Karabuk |
8 mm |
726 |
11,520 |
-7 |
+50 |
|
Karabuk |
12 mm |
725 |
11,500 |
-7 |
+50 |
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.
:The average indicated exchange rate is taken into account for today’s analysis, as the exchange rate has lately been above $1 = TRY 13.45.
$1 = TRY 13.44