Turkish rebar spot prices increase in Karabuk and Izmir

Today, February 8, spot prices in the Turkish domestic rebar market have risen by TRY 20-30/mt, with minor changes on US dollar basis, in the Karabuk and Izmir regions. Spot rebar prices in the Marmara and Iskenderun regions have remained unchanged in Turkish liras, while declining by $2-3/mt on US dollar basis,compared to the end of last week. As of today, 12 mm rebar spot prices in Turkey are at TRY 4,880-4,900/mt or $582-585/mt ex-warehouse depending on the region.

Icdas has decreased its rebar price by TRY 120/mt to TRY 4,880/mt ($582/mt) ex-works today, down by $3/mt in dollars compared to this morning.

Most mills in the Marmara region are currently offering rebar at TRY 4,985-5,000/mt ($595-597/mt) ex-works. Sources report around 20,000 mt of rebar were traded in the region at TRY 4,820/mt ($575/mt) ex-works by the end of last week.

Sources report that Izmir Demir Celik has opened its rebar sales at TRY 5,000/mt ($597/mt), up by TRY 50/mt ($4/mt) compared to last Friday, February 5.

In the Iskenderun region, one re-roller has also opened its rebar sales at TRY 5,100/mt ($609/mt) ex-warehouse today.

In the Karabuk region, Yolbulan A.S. opened its rebar sales at TRY 5,000/mt ($597/mt) ex-works today

Activity is quiet at the start of the week, with most buyers taking their time to evaluate the import scrap trend.

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 7.10