Turkish domestic rebar spot prices follow diverse trends

Thursday, 22 February 2024 16:30:10 (GMT+3)   |   Istanbul
       

Today, February 22, Turkish domestic rebar spot prices have remained stable on Turkish lira basis in the Iskenderun and Karabuk regions with only a decrease of $2-3/mt on US dollar basis, while rebar spot prices in the Izmir and Marmara have decreased by TRY 100-300/mt ($5-11/mt), all as compared to Monday, February 19. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,700-23,500/mt or $610-632/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 31,00.

Icdas has kept its official dollar-based rebar price stable at $640/mt ex-works today. The general official rebar price range in the Marmara and Izmir regions varies at $615-640/mt ex-works amid the negative sentiment in the import scrap segment. According to sources, the workable rebar price stands at $610-630/mt ex-works.

One Iskenderun-based mill is offering its rebar price at TRY 24,000/mt ($645/mt) ex-works today.

Turkey’s central bank has kept interest rates stable at 45 percent today.

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)

19.02.2024

19.02.2024

Marmara

8 mm

648

24,100

-5

-100

Marmara

12 mm

621

23,100

-5

-100

Iskenderun

8 mm

659

24,500

-2

0

Iskenderun

10 mm

653

24,300

-3

0

Iskenderun

12 mm

632

23,500

-2

0

Izmir

8 mm

637

23,700

-11

-300

Izmir

10 mm

632

23,500

-10

-300

Izmir

12 mm

610

22,700

-11

-300

Karabuk

8 mm

645

24,000

-3

0

Karabuk

12 mm

618

23,000

-3

0

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 31.00


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