Today, July 21, Turkish domestic rebar spot prices have remained stable in local currency, falling by $4-5/mt on US dollar basis since yesterday to offset currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 14,200-14,350/mt or $680-687/mt ex-warehouse, depending on the region.
The Turkish Central Bank has kept interest rates stable. The exchange rate was at $1 = TRY 17.59 yesterday and at $1 = TRY 17.70 today.
Producers’ official rebar price range varies in the Marmara and Izmir regions at $700-720/mt ex-works, while sources report that levels of $700/mt ex-works and slightly below are on the table for serious buyers.
A few local traders are aiming to destock material as they are cautious about the negative sentiment in the import scrap segment.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
20.07.2022 |
20.07.2022 |
||||
|
Marmara |
8 mm |
694 |
14,500 |
-5 |
0 |
|
Marmara |
12 mm |
685 |
14,300 |
-4 |
0 |
|
Iskenderun |
8 mm |
697 |
14,550 |
-4 |
0 |
|
Iskenderun |
10 mm |
692 |
14,450 |
-4 |
0 |
|
Iskenderun |
12 mm |
687 |
14,350 |
-4 |
0 |
|
Izmir |
8 mm |
689 |
14,400 |
-5 |
0 |
|
Izmir |
10 mm |
685 |
14,300 |
-4 |
0 |
|
Izmir |
12 mm |
680 |
14,,200 |
-4 |
0 |
|
Karabuk |
8 mm |
694 |
14,500 |
-5 |
0 |
|
Karabuk |
12 mm |
685 |
14,300 |
-4 |
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 17.70