Today, July 24, Turkish domestic rebar spot prices have fallen by TRY 100-300/mt ($4-11/mt), compared to Thursday, July 20, against the backdrop of currency fluctuations and the negative sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,300-18,600/mt or $566-575/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 26.95.
Icdas A.S has cut its official rebar price by $10/mt to $580/mt ex-works today. Sources report that most mills in the Izmir and Marmara regions are offering their list prices at $570-580/mt ex-works, versus $575-590/mt ex-works on July 20. In addition, one Iskenderun-based mill has issued its rebar price unchanged at TRY 18,300/mt ($565/mt) ex-works today.
Some local buyers are pessimistic about the current situation and expect rebar prices to fall further, while other local buyers continue purchasing only in line with their daily needs.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
20.07.2023 |
20.07.2023 |
||||
|
Marmara |
8 mm |
594 |
19,200 |
-4 |
-100 |
|
Marmara |
12 mm |
575 |
18,600 |
-5 |
-100 |
|
Iskenderun |
8 mm |
584 |
18,900 |
-11 |
-300 |
|
Iskenderun |
10 mm |
578 |
18,700 |
-11 |
-300 |
|
Iskenderun |
12 mm |
566 |
18,300 |
-11 |
-300 |
|
Izmir |
8 mm |
584 |
18,900 |
-8 |
-200 |
|
Izmir |
10 mm |
578 |
18,700 |
-8 |
-200 |
|
Izmir |
12 mm |
566 |
18,300 |
-8 |
-200 |
|
Karabuk |
8 mm |
588 |
19,000 |
-4 |
-100 |
|
Karabuk |
12 mm |
569 |
18,400 |
-5 |
-100 |
All prices are ex-warehouse and on actual weight basis. Prices on Turkish lira basis include 20 percent VAT, while prices on US dollar basis exclude VAT.
$1 = TRY 26.95