Turkish domestic rebar spot prices trend up

Today, February 8, Turkish domestic rebar spot prices have increased by TRY 100/mt ($1-2/mt), as compared to Monday, February 5, against the backdrop of the ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,900-23,200/mt or $624-632/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 30.60.

Icdas has kept its official dollar-based rebar price stable at $640/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions still varies at $625-640/mt ex-works. According to sources, a $5-10/mt discount is applicable on the higher end for serious buyers only.

One Iskenderun-based mill has kept its rebar price at TRY 23,300/mt ($635/mt) ex-works. Another mill in this region is offering rebar at TRY 23,500/mt ($640/mt) ex-works. In addition, a few re-rollers in the same region are quoting rebar at TRY 23,100-23,200/mt ($629-632/mt) ex-warehouse today, SteelOrbis has heard.

Most local buyers are monitoring the import scrap and billet price trends and are exerting pressure for further discounts due to the relatively negative sentiment in these segments.

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 30.60