Today, November 23, Turkish domestic rebar spot prices have increased by TRY 200-300/mt ($9-13/mt) as compared to Monday, November 21, amid the depreciation of the Turkish lira against the US dollar and the relatively positive sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 13,950-14,200/mt or $635-646/mt ex-warehouse, depending on the region.
Icdas has kept its official rebar price stable at $640/mt ex-works today. Most mills in the Marmara and Izmir regions are offering rebar at $630-645/mt ex-works. In addition, Kardemir had succeeded in selling around 20,000 mt of rebar at $630/mt ex-works by the time it closed its rebar sales yesterday afternoon. Most local traders are refraining from new purchases due to the sluggish demand, the unclear financial situation in the country and credit payment issues. A few mills are attempting to keep their rebar prices firm amid the higher production costs. The Turkish Central Bank’s interest rate decision due tomorrow is also another key factor affecting buyers' decisions.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
21.11.2022 |
21.11.2022 |
||||
|
Marmara |
8 mm |
655 |
14,400 |
+9 |
+200 |
|
Marmara |
12 mm |
646 |
14,200 |
+9 |
+200 |
|
Iskenderun |
8 mm |
646 |
14,200 |
+9 |
+200 |
|
Iskenderun |
10 mm |
641 |
14,100 |
+9 |
+200 |
|
Iskenderun |
12 mm |
637 |
14,000 |
+9 |
+200 |
|
Izmir |
8 mm |
644 |
14,150 |
+12 |
+250 |
|
Izmir |
10 mm |
639 |
14,050 |
+11 |
+250 |
|
Izmir |
12 mm |
635 |
13,950 |
+12 |
+250 |
|
Karabuk |
8 mm |
650 |
14,300 |
+13 |
+300 |
|
Karabuk |
12 mm |
641 |
14,100 |
+13 |
+300 |
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 18.63