As of today, October 17, Turkish domestic rebar spot prices have decreased by TRY 100-400/mt, down by $7-8/mt on US dollar basis in the Marmara region with just minor changes on US dollar basis in the rest of the country, as compared to October 14, due to the ongoing currency fluctuations and the negative sentiment in the import scrap segment. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 25,600-26,700/mt or $625-652/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 34.15.
The workable rebar prices in the Marmara and Izmir regions vary at $625-640/mt ex-works including prices from Icdas A.S., versus $625-650/mt ex-works at the beginning of this week, for cash payment only. Additional discounts are available for serious buyers.
One Iskenderun-based mill has issued its rebar price at TRY 26,500/mt ($647/mt) ex-works today. In addition, another Iskenderun-based mill and re-roller is also offering rebar at TRY 26,800/mt ($654/mt) ex-works and TRY 26,700/mt ($652/mt) ex-warehouse respectively.
Turkey’s central bank has kept interest rates stable today. Most buyers are in wait-and-see mode so far as regards new purchases.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
14.10.2024 |
14.10.2024 |
||||
Marmara |
8 mm |
659 |
27,000 |
-7 |
-400 |
Marmara |
12 mm |
634 |
26,000 |
-8 |
-400 |
Iskenderun |
8 mm |
676 |
27,700 |
0 |
-100 |
Iskenderun |
10 mm |
671 |
27,500 |
0 |
-100 |
Iskenderun |
12 mm |
652 |
26,700 |
0 |
-100 |
Izmir |
8 mm |
649 |
26,600 |
0 |
-100 |
Izmir |
10 mm |
644 |
26,400 |
0 |
-100 |
Izmir |
12 mm |
625 |
25,600 |
0 |
-100 |
Karabuk |
8 mm |
664 |
27,200 |
-2 |
-200 |
Karabuk |
12 mm |
639 |
26,200 |
-3 |
-200 |
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 34.15