Today, January 8, Turkish domestic rebar spot prices have risen by TRY 300-600/mt ($5-14/mt), compared to Thursday, January 4, against the backdrop of the ongoing currency fluctuations and the relatively positive sentiment in the import scrap and billet segments. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,000-22,600/mt or $613-630/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 29.90.
Icdas has hiked its official dollar-based rebar price by $10/mt to $630/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions now varies at $620-635/mt, versus $600-620/mt ex-works over last week. In addition, one Marmara-based mill has increased its conversion cost for 10 mm and 8 mm to TRY 1,000/mt ($28/mt) and TRY 1,200/mt ($33/mt) today. The respective conversion costs were at TRY 800/mt ($22/mt) and TRY 1,000/mt ($28/mt) in early November, with costs indicating an increase of TRY 200/mt ($5-6/mt) since then.
One Iskenderun-based mill is offering rebar at TRY 22,600/mt ($630/mt) ex-works for early February delivery, SteelOrbis has heard.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
4.01.2024 |
4.01.2024 |
||||
Marmara |
8 mm |
658 |
23,600 |
+14 |
+600 |
Marmara |
12 mm |
630 |
22,600 |
+14 |
+600 |
Iskenderun |
8 mm |
655 |
23,500 |
+6 |
+300 |
Iskenderun |
10 mm |
649 |
23,300 |
+5 |
+300 |
Iskenderun |
12 mm |
627 |
22,500 |
+6 |
+300 |
Izmir |
8 mm |
641 |
23,000 |
+11 |
+500 |
Izmir |
10 mm |
635 |
22,800 |
+11 |
+500 |
Izmir |
12 mm |
613 |
22,000 |
+11 |
+500 |
Karabuk |
8 mm |
647 |
23,200 |
+6 |
+300 |
Karabuk |
12 mm |
619 |
22,200 |
+6 |
+300 |
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 29.90
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