Today, February 19, Turkish domestic rebar spot prices have remained unchanged in the local currency, as compared to Thursday, February 15, with minor changes on US dollar basis amid the ongoing currency fluctuations. Accordingly, 12 mm rebar spot prices in Turkey have settled at TRY 23,000-23,500/mt or $621-634/mt ex-warehouse, depending on the region, with an exchange rate of $1 = TRY 30.87.
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 $635-640/mt ex-works. According to sources, the workable rebar price stands at $620-635/mt ex-works.
One Iskenderun-based mill is offering its rebar price at TRY 23,700/mt ($640/mt) ex-works.
Most local buyers are not in a rush to replenish their stocks and are watching to see if local rebar prices will soften due to the negative sentiment in the import scrap segment and ahead of the Turkish Central Bank's interest rate decision due on Thursday, February 22.
As of today, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price ($/mt) |
Price (TRY/mt) |
Price changes ($/mt) |
Price changes (TRY/mt) |
|
15.02.2024 |
15.02.2024 |
||||
|
Marmara |
8 mm |
653 |
24,200 |
-3 |
0 |
|
Marmara |
12 mm |
626 |
23,200 |
-3 |
0 |
|
Iskenderun |
8 mm |
661 |
24,500 |
-3 |
0 |
|
Iskenderun |
10 mm |
656 |
24,300 |
-3 |
0 |
|
Iskenderun |
12 mm |
634 |
23,500 |
-3 |
0 |
|
Izmir |
8 mm |
648 |
24,000 |
-2 |
0 |
|
Izmir |
10 mm |
642 |
23,800 |
-3 |
0 |
|
Izmir |
12 mm |
621 |
23,000 |
-2 |
0 |
|
Karabuk |
8 mm |
648 |
24,000 |
-2 |
0 |
|
Karabuk |
12 mm |
621 |
23,000 |
-2 |
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 30.87