Turkish domestic rebar spot prices rise significantly

Today, September 23, Turkish domestic rebar spot prices have risen by TRY 400-600/mt ($7-12/mt) against the backdrop of the ongoing currency fluctuations and limited size availability, as compared to Thursday, September 19. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 24,500-25,400/mt or $598-620/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 34.16.

The workable rebar prices in the Izmir and Marmara regions vary at $600-620/mt ex-works, rising by $10/mt over the same period, including prices from Icdas A.S., for serious buyers and cash payment only. On the other hand, most buyers are taking their time before concluding new purchases. One Marmara-based mill has closed its rebar sales for this week due to the unclear market conditions, while it is expected to open its rebar sales at the beginning of next week. A few mills have already stopped their production, while some other mills are carrying out maintenance works. 

One Iskenderun-based mill has issued its rebar price at TRY 25,150/mt ($614/mt) ex-works today. Another mill in this region is offering rebar at TRY 25,300/mt ($617/mt) ex-works, while a few re-rollers in the same region are testing TRY 25,200/mt ($615/mt) ex-warehouse.

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 20 percent VAT, while prices on US dollar basis exclude VAT.

$1 = TRY 34.16