Turkish domestic rebar spot prices trend up

Today, September 28, Turkish domestic rebar spot prices have risen by TRY 300-350/mt ($5-6/mt) compared to Monday, September 25, amid ongoing currency fluctuations.  Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 18,800-19,150/mt or $572-582/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 27.42.

Icdas has kept its official dollar-based rebar price stable at $590/mt ex-works today. Most Izmir and Marmara-based mills are offering official rebar prices at $570-590/mt ex-works today. Sources report around 20,000 mt of rebar were traded at $565/mt ex-works and 8,000 mt of rebar were traded at $575/mt ex-works in these regions yesterday, SteelOrbis has heard.

In the Iskenderun region, one Iskenderun-based mill is offering rebar today at TRY 19,350/mt ($588/mt) ex-works.

It is worth mentioning most Turkish mills raised their additional cost for size conversion yesterday.

The general additional cost of size conversion for 8 mm has settled at TRY 780-800/mt ($24-25/mt), while one Izmir-based mill is quoting TRY 700/mt ($22/mt) for the same size. Moreover, most Marmara-based mills and Yesilyurt Metallurgy have settled their additional cost of size conversion for 10 mm at TRY 660-700/mt ($19-20/mt), while a few mills in the Izmir and Iskenderun regions have settled their prices at TRY 500-600/mt ($14-17/mt) for this size. In addition, one Marmara-based mill has started quoting a special length and additional cost for 36 mm and 40 mm sizes at TRY 700/mt ($20/mt), while the extra cost for B500B and B500C stands at TRY 500/mt ($14/mt). All conversion prices include 20 percent VAT.

As of today, rebar offers in the Turkish spot market are as follows:

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 27.42