Today, December 6, Turkish domestic rebar spot prices have remained unchanged in the local currency, with minor changes in the US dollar prices, taking into account the depreciation of the local currency against and sluggish demand. Accordingly, 12 mm rebar spot prices in Turkey have remained at TRY 11,600-11,850/mt or $712-728/mt ex-warehouse, depending on the region.
Most producers in the Izmir and Marmara regions are currently offering rebar at $735-750/mt ex-works, including Icdas A.S. However, additional discounts are applicable for serious buyers. In the Karabuk region, Yolbulan A.S. has opened its rebar sales at TRY 11,850/mt ($728/mt) ex-works.
Most local traders are refraining from new purchases amid the rapid currency fluctuations and unclear financial situation in Turkey. A few of them have been destocking small tonnages to be on the safe side if any downward adjustment happens. Construction companies have put their projects on hold or are even try to sell them as they are struggling with the financial difficulties and payment restrictions. The unconventional monetary policy in Turkey, on top of an already weak external position, fuels uncertainty and market volatility.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
3.12.2021 |
3.12.2021 |
||||
|
Marmara |
8 mm |
729 |
11,870 |
-1 |
0 |
|
Marmara |
12 mm |
728 |
11,850 |
-1 |
0 |
|
Iskenderun |
8 mm |
714 |
11,630 |
-1 |
0 |
|
Iskenderun |
10 mm |
713 |
11,615 |
-1 |
0 |
|
Iskenderun |
12 mm |
712 |
11,600 |
-1 |
0 |
|
Izmir |
8 mm |
726 |
11,820 |
-1 |
0 |
|
Izmir |
10 mm |
725 |
11,810 |
-1 |
0 |
|
Izmir |
12 mm |
725 |
11,800 |
-1 |
0 |
|
Karabuk |
8 mm |
726 |
11,820 |
-1 |
0 |
|
Karabuk |
12 mm |
725 |
11,800 |
-1 |
0 |
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 13.80