Today, February 26, Turkish domestic rebar spot prices have decreased by TRY 100-200/mt ($5-8/mt) amid weaker import scrap prices, as compared to Thursday, February 22. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,600-23,400/mt or $605-627/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 31,12.
Icdas has cut its official dollar-based rebar price by $20/mt to $620/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions varies at $605-625/mt ex-works, versus $615-640/mt ex-works a week ago.
One Iskenderun-based mill is still offering its rebar at TRY 24,000/mt ($643/mt) ex-works today. A few re-rollers in this region are also offering rebar at TRY 23,200-23,400/mt ($621-627/mt) ex-warehouse
The general sentiment on the demand side is negative as Ramadan will start on Monday, March 11. As a result, most buyers are maintaining a wait-and-see stance.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
22.02.2024 |
22.02.2024 |
||||
|
Marmara |
8 mm |
643 |
24,000 |
-5 |
100 |
|
Marmara |
12 mm |
616 |
23,000 |
-5 |
100 |
|
Iskenderun |
8 mm |
653 |
24,400 |
-6 |
100 |
|
Iskenderun |
10 mm |
648 |
24,200 |
-5 |
100 |
|
Iskenderun |
12 mm |
627 |
23,400 |
-5 |
100 |
|
Izmir |
8 mm |
632 |
23,600 |
-5 |
100 |
|
Izmir |
10 mm |
627 |
23,400 |
-5 |
100 |
|
Izmir |
12 mm |
605 |
22,600 |
-5 |
100 |
|
Karabuk |
8 mm |
637 |
23,800 |
-8 |
200 |
|
Karabuk |
12 mm |
611 |
22,800 |
-7 |
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 31.12