Turkish domestic rebar spot prices rise sharply amid costlier scrap

Today, October 6, Turkish domestic rebar spot prices have increased by TRY 110-150/mt ($7-11/mt), as compared to Monday, October 4, against the backdrop of currency fluctuations and the positive sentiment in the import scrap segment. Most producers and traders have closed their rebar sales in the afternoon after selling some tonnages. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 7,150-7,200/mt or $681-686/mt ex-warehouse, depending on the region.

Icdas has increased its rebar price by $10/mt to $680/mt ex-works today. Other mills in the Marmara region are currently offering rebar at $680-685/mt ex-works, mainly for late October delivery.

In the Izmir region, most mills’ rebar prices are available at $680/mt ex-works today. According to sources, some tonnages were traded at $660-670/mt ex-works in the Izmir and Marmara regions earlier this week, while the final tonnages have not been confirmed by the time of publication.

In the Iskenderun region, earlier today one re-roller opened its rebar sales at TRY 7,100/mt ($676/mt) ex-warehouse, while another reroller opened its rebar sales at TRY 7,160/mt ($682/mt) ex-warehouse. Both re-rollers closed their rebar sales in the afternoon.

In the Karabuk region, Yolbulan A.S. opened its rebar sales at TRY 7,200/mt ($686/mt) ex-works today.

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 8.90