Today, September 16, Turkish domestic rebar spot prices have risen by TRY 100-200/mt ($2-5/mt) in the Izmir and Karabuk regions against the backdrop of the ongoing currency fluctuations and the relatively positive sentiment in the import scrap segment, while rebar spot prices have remained stable in the local currency in the rest of the country, indicating only small changes on US dollar basis, as compared to Thursday, September 12. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,900-24,600/mt or $586-604/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 33.96.
The workable rebar prices in the Izmir and Marmara regions vary at $585-600/mt ex-works, rising by $5/mt week on week, including prices from Icdas A.S., for serious buyers and cash payment only. On the other hand, most buyers are exerting pressure for additional discounts due to the sluggish demand in the market.
One Iskenderun-based mill has increased its rebar price by TRY 100/mt to TRY 24,450/mt ($598/mt) ex-works today.
Most buyers are taking their time before concluding new purchases, while monitoring the import scrap price trend.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
12.09.2024 |
12.09.2024 |
||||
Marmara |
8 mm |
623 |
25,400 |
-1 |
0 |
Marmara |
12 mm |
599 |
24,400 |
0 |
0 |
Iskenderun |
8 mm |
628 |
25,600 |
-1 |
0 |
Iskenderun |
10 mm |
623 |
25,400 |
-1 |
0 |
Iskenderun |
12 mm |
604 |
24,600 |
0 |
0 |
Izmir |
8 mm |
611 |
24,900 |
+5 |
+200 |
Izmir |
10 mm |
606 |
24,700 |
+4 |
+200 |
Izmir |
12 mm |
586 |
23,900 |
+4 |
+200 |
Karabuk |
8 mm |
616 |
25,100 |
+2 |
+100 |
Karabuk |
12 mm |
591 |
24,100 |
+2 |
+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 33.96