Turkish domestic rebar spot prices trend up

Thursday, 26 January 2023 17:13:21 (GMT+3)   |   Istanbul
       

Today, January 26, Turkish domestic rebar spot prices have risen by TRY 150-250/mt ($6-11/mt) compared to Monday, January 23, amid currency fluctuations and costlier import scrap prices. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 15,600-15,650/mt or $703-705/mt ex-warehouse, depending on the region.

Icdas has kept its official rebar price at $710/mt ex-works today. Most Marmara and Izmir-based mills are offering official rebar prices at $710-730/mt ex-works. According to sources, one Izmir-based mill has succeeded in selling around 20,000 mt of rebar at $700/mt ex-works today.

A few mills are applying aggressive pricing strategies to generate sales. However, the higher production costs, specifically energy prices, remain a big challenge for Turkish mills’ rebar exports and they are trying to compensate for weak rebar export sales with their domestic rebar sales.

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)

23.01.2023

23.01.2023

Marmara

8 mm

714

15,850

+9

+200

Marmara

12 mm

705

15,650

+9

+200

Iskenderun

8 mm

714

15,850

+6

+150

Iskenderun

10 mm

710

15,750

+7

+150

Iskenderun

12 mm

705

15,650

+6

+150

Izmir

8 mm

712

15,800

+11

+250

Izmir

10 mm

707

15,700

+11

+250

Izmir

12 mm

703

15,600

+11

+250

Karabuk

8 mm

712

15,800

+7

+150

Karabuk

12 mm

703

15,600

+7

+150

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 18.81


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