Today,December 1, Turkish domestic rebar spot prices have increased by TRY 70-200/mt, with minor changes on US dollar basis, against the backdrop of the depreciation of the Turkish lira against the US dollar. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 11,300-11,500/mt or $722-735/mt ex-warehouse, depending on the region. The average exchange rate was at $1 = TRY 13.06 yesterday.
Most Turkish suppliers have kept their official rebar prices at $740-750/mt ex-works. According to sources, a few mills are trying to maintain their rebar prices firm amid the silence in the import scrap segment and the unclear financial situation in Turkey.
Most local traders are refraining from new purchases in line with the depreciation of the Turkish lira against the US dollar, while the Turkish lira even plunged as low as 14 to the US dollar and hit new lows against the euro on Tuesday, November 30.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
30.11.2021 |
30.11.2021 |
||||
|
Marmara |
8 mm |
736 |
11,520 |
-7 |
+70 |
|
Marmara |
12 mm |
735 |
11,500 |
-7 |
+70 |
|
Iskenderun |
8 mm |
724 |
11,330 |
-5 |
+100 |
|
Iskenderun |
10 mm |
723 |
11,315 |
-5 |
+100 |
|
Iskenderun |
12 mm |
722 |
11,300 |
-5 |
+100 |
|
Izmir |
8 mm |
730 |
11,420 |
-5 |
+100 |
|
Izmir |
10 mm |
729 |
11,410 |
-5 |
+100 |
|
Izmir |
12 mm |
729 |
11,400 |
-4 |
+100 |
|
Karabuk |
8 mm |
733 |
11,470 |
+2 |
+200 |
|
Karabuk |
12 mm |
732 |
11,450 |
+2 |
+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.
:The average indicated exchange rate is taken into account for today’s analysis, as the exchange rate has lately been above $1 = TRY 13.35.
$1 = TRY 13.26