Turkish domestic rebar spot prices weaken

Tuesday, 01 June 2021 16:05:01 (GMT+3)   |   Istanbul
       

On June 1, Turkish domestic rebar spot prices moved down by TRY 20-30/mt ($4-5/mt), due to sluggish demand and the negative mood in the scrap segment. Accordingly, 12 mm rebar spot prices in Turkey are now at TRY 7,020-7,100/mt or $699-707/mt ex-warehouse, depending on the region.

Icdas has kept its official rebar at $740/mt ex-works. Most Marmara and Izmir region-based mills are currently offering rebar at $720-730/mt ex-works. “ A few mills are not in a rush to decrease their official prices due to sluggish demand, while business activity is also limited on the local traders’ side,” a source mentioned.

In the Iskenderun region, one re-roller has closed its rebar sales until Friday, June 4.

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)

31.05.2021

31.05.2021

Marmara

8 mm

709

7,120

-5

-30

Marmara

12 mm

707

7,100

-5

-30

Iskenderun

8 mm

702

7,050

-5

-30

Iskenderun

10 mm

701

7,035

-4

-30

Iskenderun

12 mm

699

7,020

-5

-30

Izmir

8 mm

704

7,070

-4

-20

Izmir

10 mm

703

7,060

-4

-20

Izmir

12 mm

702

7,050

-4

-20

Karabuk

8 mm

706

7,090

-5

-30

Karabuk

12 mm

704

7,070

-5

-30

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 8.51


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