Today, September 12, Turkish domestic rebar spot prices have increased by TRY 100-200/mt ($4-7/mt) against the backdrop of the ongoing currency fluctuations and the relatively positive sentiment in the import scrap segment, as compared to Monday, September 9. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,700-24,600/mt or $582-604/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 still vary at $580-595/mt ex-works, stable since the beginning of this 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 issued its rebar price at TRY 24,350/mt ($598/mt) ex-works today.
Turkey’s central bank is going to announce its next decision on interest rates on Thursday, September 19.
As of today, rebar offers in the Turkish spot market are as follows:
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
9.09.2024 |
9.09.2024 |
||||
Marmara |
8 mm |
624 |
25,400 |
+7 |
+200 |
Marmara |
12 mm |
599 |
24,400 |
+7 |
+200 |
Iskenderun |
8 mm |
629 |
25,600 |
+5 |
+100 |
Iskenderun |
10 mm |
624 |
25,400 |
+5 |
+100 |
Iskenderun |
12 mm |
604 |
24,600 |
+4 |
+100 |
Izmir |
8 mm |
606 |
24,700 |
+4 |
+100 |
Izmir |
10 mm |
602 |
24,500 |
+5 |
+100 |
Izmir |
12 mm |
582 |
23,700 |
+4 |
+100 |
Karabuk |
8 mm |
614 |
25,000 |
+5 |
+100 |
Karabuk |
12 mm |
589 |
24,000 |
+4 |
+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