Turkish domestic rebar spot prices trend up

As of today, May 12, Turkish domestic rebar spot prices have increased by TRY 300/mt ($4-5/mt) amid the positive sentiment in the import scrap segment and the ongoing currency fluctuations, compared to Thursday, May 8. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 25,300-25,800/mt or $544-555/mt, ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 38.77.

The official rebar prices in the Marmara and Izmir regions vary at $545-560/mt ex-works, including Icdas A.S.’s prices, up by $5/mt on the lower end, while the workable rebar prices in these regions vary at $545-555/mt ex-works, also up by $5/mt on the lower end, for cash payment only. One Marmara-based mill has kept its rebar sales closed today. Moreover, a sale of a small tonnage is rumored to have been done at slightly below $540/mt ex-works in the Izmir region, though without any confirmation by the time of publication.

Two Iskenderun-based mills have issued their official rebar prices at TRY 26,000-26,200/mt ($559-563/mt) ex-works today. Sources report that the workable rebar price in this region is at around TRY 25,700-25,800/mt ($552-555/mt) ex-works amid aggressive pricing.

One Samsun-based mill has closed its rebar sales until Monday, May 19.

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 38.77