Turkish domestic rebar spot prices follow diverse trends

Today, November 27, Turkish domestic rebar spot prices have mostly increased by TRY 100-200/mt ($0-3/mt) in the Marmara and Iskenderun regions compared to Thursday, November 23, amid the ongoing currency fluctuations, while rebar spot prices in the Karabuk and Izmir regions have remained unchanged in the local currency, with minor changes on US dollar basis. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 20,000-20,600/mt or $577-594/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 28.91.

Icdas has kept its official dollar-based rebar price stable at $580/mt ex-works today. Most Izmir and Marmara-based mills are still offering official rebar prices at $580-600/mt ex-works. Just one Marmara-based mill has issued its rebar price at $605/mt ex-works today.

In the Iskenderun region, Bastug Metallurgy has opened its rebar price at TRY 20,500/mt ($591/mt) ex-works, while another mill in this region has issued its rebar price at TRY 20,800/mt ($600/mt) ex-works today. In addition, a few re-rollers in this region are offering rebar at TRY 20,600-20,700/mt ($594-597/mt) ex-warehouse. The general sentiment on the demand side is negative due to the adverse weather conditions.

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 28.91