Turkish domestic rebar spot prices follow diverse trends

Today, September 26, Turkish domestic rebar spot prices have fallen by TRY 100/mt ($2/mt) in the Iskenderun and Marmara regions amid the ongoing currency fluctuations and sluggish demand, while remaining stable in the local currency with minor changes on US dollar basis in the rest of the country, as compared to Monday, September 23. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 24,500-25,300/mt or $598-618/mt ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 34.14.

The workable rebar prices in the Izmir and Marmara regions vary at $600-615/mt ex-works, falling by $5/mt on the higher end over the same period, including prices from Icdas A.S., for serious buyers and cash payment only. Most local buyers are resisting and are exerting pressure for further discounts due to the sluggish demand and the unclear financial situation in the country.

One Iskenderun-based mill has issued its rebar price at TRY 25,300/mt ($618/mt) ex-works today. Another mill in this region is offering rebar at TRY 25,400/mt ($620/mt) ex-works, up by TRY 100/mt ($3/mt) since the beginning of this week, while a few re-rollers in the same region are also testing TRY 25,400/mt ($620/mt) ex-warehouse, SteelOrbis has heard.

One Samsun-based mill is focusing on billet sales and has kept its rebar sales closed so far.

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 20 percent VAT, while prices on US dollar basis exclude VAT.

$1 = TRY 34.14