Turkish domestic rebar spot prices mostly soften

Today, February 1, Turkish domestic rebar spot prices have mostly fallen by TRY 100-200/mt, while only remaining stable in the Izmir region in the local currency compared to Monday, January 29, against the backdrop of the ongoing currency fluctuations and sluggish demand. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 22,500-23,000/mt or $617-631/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 30.37.

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 $625-645/mt ex-works, while slightly lower levels are applicable only for serious buyers.

One Iskenderun-based mill is still offering rebar at TRY 23,050/mt ($632/mt) ex-works, while a few re-rollers in the same region are quoting rebar at TRY 23,000-23,200/mt ($631-637/mt) ex-warehouse.

One Samsun-based mill is offering rebar at TRY 23,600/mt ($648/mt) ex-works. Kardemir has issued its rebar price at TRY 19,165/mt ex-works ($631/mt) ex-works, excluding VAT. Sources have told SteelOrbis that the producer has sold around 25,000 mt of rebar so far with its advantageous payment terms.

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.

**Most rebar spot prices indicate minor changes on US dollar basis.

$1 = TRY 30.37