Turkish domestic rebar spot prices stable in local currency

Most Turkish rebar producers have attempted to keep their dollar-based local rebar prices unchanged amid the ongoing depreciation of the Turkish lira against the US dollar and higher import scrap prices.

Official dollar-based rebar offers and workable prices from mills in the Marmara and Izmir regions, including İçdaş, have remained flat at $600-615/mt ex-works and $595-610/mt ex-works, respectively, as compared to April 27. One Izmir-based mill has set its official rebar price at TRY 32,500/mt ($599/mt) ex-works today, April 30, indicating a decrease of TRY 200/mt ($6/mt) over the same period. 

An Iskenderun region-based mill set its official rebar price today at TRY 32,000/mt ($590/mt) ex-works, up by TRY 200/mt with only minor changes on US dollar basis in order to offset currency fluctuations, compared to April 27. Sources report that several Iskenderun-based rolling mills have set their rebar prices today, for serious buyers and cash payment, at TRY 31,800-32,000/mt ($587-590/mt) ex-warehouse, with a decrease of TRY 200/mt ($6/mt) on the higher end over the same period.

Currently, local 12 mm rebar prices in the spot market in Turkey are in the range of TRY 32,000-32,700/mt ($590-603/mt) ex-warehouse, stable in the local currency, while falling by only $2/mt on US dollar basis compared to April 27.

All prices are ex-warehouse and on actual weight basis. Prices in Turkish liras include 20 percent VAT, while prices in US dollars exclude VAT.

$1 = TRY 45.18