Turkish domestic rebar spot prices trend up amid stronger scrap

Today, April 30, Turkish domestic rebar prices have increased by TRY 100-180/mt  ($8-17/mt), amid currency fluctuations and stronger scrap prices. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 6,180-6,230/mt or $633-638/mt ex-warehouse, depending on the region.

Icdas A.S. opened its rebar sales at $630/mt ex-works earlier today and closed its rebar sales in the afternoon. Also, some Marmara-based mills opened their rebar price list at $640/mt ex-works and closed their rebar sales in the afternoon. Most mills in the Izmir region are currently offering rebar at $640/mt ex-works at the current exchange rate. Sources report that one Izmir-based mill succeeded in selling 35,000 mt of rebar at $625/mt ex-works yesterday. Moreover, around 90,000 mt of rebar and wire rod have been traded in this region since the beginning of this week, including the sale of 12,000-15,000 mt of rebar at $620/mt ex-works in the Izmir region earlier this week, SteelOrbis has reported.

In the Iskenderun region, Koc Metallurgy and Bastug Metallurgy opened their rebar sales at TRY 6,300/mt ($645/mt) ex-works earlier today, while Koc Metallurgy has closed its rebar sales in the afternoon. This upward price movement by producers have caused local traders in this region to quote higher prices compared to other regions. In addition, some local traders in this region believe that rebar prices may increase further due to Bastug’s announcement raising its local scrap purchase price by TRY 100/mt starting from tomorrow and due to the recent rebar export sales from this region.

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 18 percent VAT, while prices on US dollar basis exclude VAT.

$1 = TRY 8.28