Today, August 22, Turkish domestic rebar spot prices have increased by TRY 100/mt in the Marmara region, while falling by TRY 100/mt in the Karabuk region due to some local traders applying aggressive pricing strategies to generate cash, with minor changes on US dollar basis against the backdrop of the ongoing currency fluctuations, as compared to Monday, August 19. In addition, in the rest of the country, rebar spot prices have remained stable in the local currency, while falling by $3-4/mt over the same period. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,300-24,300/mt or $572-597/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 33.94.
The workable rebar prices in the Izmir and Marmara regions vary at $570-585/mt ex-works, including prices from Icdas A.S., for serious buyers and cash payment only. The prices indicate a decrease of $5/mt since the beginning of this week.
One Iskenderun-based mill has issued its rebar price at TRY 24,000/mt ($589/mt) ex-works today.
In Samsun region, one mill is offering rebar today at TRY 24,600/mt ($604/mt) ex-works.
Most local buyers are only purchasing in line with their daily needs and are monitoring the import scrap price trend.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
19.08.2024 |
19.08.2024 |
||||
Marmara |
8 mm |
614 |
25,000 |
-1 |
-100 |
Marmara |
12 mm |
589 |
24,000 |
-1 |
-100 |
Iskenderun |
8 mm |
621 |
25,300 |
-4 |
0 |
Iskenderun |
10 mm |
616 |
25,100 |
-4 |
0 |
Iskenderun |
12 mm |
597 |
24,300 |
-3 |
0 |
Izmir |
8 mm |
597 |
24,300 |
-3 |
0 |
Izmir |
10 mm |
592 |
24,100 |
-3 |
0 |
Izmir |
12 mm |
572 |
23,300 |
-3 |
0 |
Karabuk |
8 mm |
606 |
24,700 |
-7 |
+100 |
Karabuk |
12 mm |
582 |
23,700 |
-6 |
+100 |
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 33.94