Turkish domestic rebar spot prices soften as week ends

Friday, 22 July 2022 17:23:39 (GMT+3)   |   Istanbul
       

Today, July 22, Turkish domestic rebar spot prices have fallen by TRY 50-300/mt ($3-15/mt) amid the negative sentiment in the import scrap segment and currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 13,900-14,250/mt or $665-682/mt ex-warehouse, depending on the region.

Icdas A.S. has kept its rebar price at $720/mt ex-works today. A small tonnage of rebar was traded at $670/mt ex-works in the Marmara region yesterday.

A few local traders are in a rush destocking material as they believe local rebar spot prices may fall further at the beginning of next week.

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)

21.07.2022

21.07.2022

Marmara

8 mm

691

14,450

-3

-50

Marmara

12 mm

682

14,250

-3

-50

Iskenderun

8 mm

686

14,350

-11

-200

Iskenderun

10 mm

682

14,250

-10

-200

Iskenderun

12 mm

677

14,150

-10

-200

Izmir

8 mm

674

14,100

-15

-300

Izmir

10 mm

670

14,000

-15

-300

Izmir

12 mm

665

13,900

-15

-300

Karabuk

8 mm

684

14,300

-10

-200

Karabuk

12 mm

674

14,100

-11

-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.

$1 = TRY 17.72


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