Today, March 2, Turkish domestic rebar spot prices have risen by TRY 700-1,000/mt ($33-52/mt) amid higher billet prices, currency fluctuations and Turkish mills’ sharp rebar price hikes. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 13,500-13,850/mt or $813-834/mt ex-warehouse, depending on the region.
Icdas A.S. has increased its rebar price by $40/mt to $810/mt ex-works today. Most mills in the Izmir and Marmara region opened their rebar sales at $800-820/mt ex-works in the morning and closed them in the afternoon. A small lot of rebar was traded at $810/mt ex-works in the Marmara region this week. Moreover, according to sources, around 25,000 mt of rebar were traded at $770/mt ex-works in the Izmir region earlier this week. However, these rebar prices are not valid now.
In the Iskenderun region, Koc Metallurgy closed its rebar sales after a couple of hours today after opening them at TRY 14,000/mt ($843/mt) ex-works.
In the Karabuk region, Yolbulan A.S. rebar sales have been closed since the middle of February.
On the demand side, most buyers are in somewhat of a panic and are monitoring the raw material and billet segments to gain a clearer picture before concluding new purchases.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
1.03.2022 |
1.03.2022 |
||||
Marmara |
8 mm |
846 |
14,050 |
+52 |
+1,000 |
Marmara |
12 mm |
834 |
13,850 |
+52 |
+1,000 |
Iskenderun |
8 mm |
837 |
13,900 |
+33 |
+700 |
Iskenderun |
10 mm |
831 |
13,800 |
+33 |
+700 |
Iskenderun |
12 mm |
825 |
13,700 |
+34 |
+700 |
Izmir |
8 mm |
825 |
13,700 |
+40 |
+800 |
Izmir |
10 mm |
819 |
13,600 |
+40 |
+800 |
Izmir |
12 mm |
813 |
13,500 |
+40 |
+800 |
Karabuk |
8 mm |
834 |
13,850 |
+46 |
+900 |
Karabuk |
12 mm |
822 |
13,650 |
+46 |
+900 |
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 14.08