Today, May 29, Turkish domestic rebar spot prices have risen by TRY 100-300/mt, while falling by $3-12/mt compared to Thursday, May 25, against the backdrop of ongoing currency fluctuations and the unclear financial situation in the country. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 15,500-15,700/mt or $641-649/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 20.50.
Icdas A.S. has set its official rebar price at $650/mt ex-works. Sources report that a few Marmara-based mills are offering rebar at TRY 15,800/mt ($653/mt) ex-works. In addition, one Izmir-based mill has issued its official rebar price at $660/mt ex-works, with an exchange rate of $1 = TRY 20.50 today.
In the Iskenderun region, a few re-rollers are offering rebar at TRY 15,300-15,500/mt ($632-641/mt) ex-warehouse today.
Most local traders are attempting to destock material to generate cash at the end of the month to repay loans.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
25.05.2023 |
25.05.2023 |
||||
|
Marmara |
8 mm |
657 |
15,900 |
-4 |
+300 |
|
Marmara |
12 mm |
649 |
15,700 |
-4 |
+300 |
|
Iskenderun |
8 mm |
649 |
15,700 |
-12 |
+100 |
|
Iskenderun |
10 mm |
645 |
15,600 |
-12 |
+100 |
|
Iskenderun |
12 mm |
641 |
15,500 |
-12 |
+100 |
|
Izmir |
8 mm |
653 |
15,800 |
-4 |
+300 |
|
Izmir |
10 mm |
649 |
15,700 |
-4 |
+300 |
|
Izmir |
12 mm |
645 |
15,600 |
-3 |
+300 |
|
Karabuk |
8 mm |
653 |
15,800 |
-8 |
+200 |
|
Karabuk |
12 mm |
645 |
15,600 |
-8 |
+200 |
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 20.50