Turkish domestic rebar spot prices rise sharply as week ends

Today, January 8, spot prices in the local Turkish rebar market have increased by TRY 80-130/mt ($5-12/mt) due to currency fluctuations and the positive sentiment in the scrap segment. As of today, 12 mm rebar spot prices in Turkey have settled at TRY 5,600-5,700/mt or $646-657/mt ex-warehouse depending on the region.

Icdas has today issued its rebar price at $645/mt on US dollar basis. In addition, most Marmara-based mills are currently offering rebar at TRY 5,725/mt ($660/mt) ex-works, up by TRY 30/mt in the local currency, while stable on US dollar basis. Sources report that around 3,000 mt were traded at TRY 5,680/mt ($655/mt) ex-works, Wednesday, January 6.

In the Izmir region, Izmir Demir Celik (IDC) has set its rebar price at TRY 5,725/mt ($660/mt) ex-works, up by TRY 30/mt in the local currency, while stable on US dollar basis. Another mill in this region has issued its rebar price at TRY 5,900/mt ($680/mt) ex-works today. Sources report that around 10,000 mt of rebar were traded at $645-650/mt ex-works in the Izmir region yesterday. However, the final tonnage has not been confirmed by the time of publication.

In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 5,700/mt ($657/mt) ex-works.

In the Iskenderun region, Bastug A.S.’s rebar sales are still closed, while Koc Metallurgy has closed its rebar sales until March, SteelOrbis has heard.

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 7.35