Demand remains sluggish in local Turkish rebar market

Buyers in the local Turkish rebar market are maintaining a cautious stance as regards concluding new purchases against the backdrop of higher price levels, while they also prefer to postpone their rebar purchases due to the approaching Feast of Sacrifice holiday (Aug. 31- Sept. 4).

Following the sharp price increases seen in the local Turkish rebar market for some time now, Turkish traders’ domestic rebar prices indicated slight downward corrections in the middle of last week. However, with import scrap quotations maintaining their strength at high levels, domestic rebar prices in Turkey once again increased on Friday, August 18, moving up by TRY 10-20/mt compared to SteelOrbis’ report published on August 17. 

On the other hand, Turkish traders have kept their domestic rebar quotations stable today, August 21, to stimulate their sales as demand in the local Turkish rebar market has continued to remain weak after August 18.

As of today, August 21, traders’ rebar offers in the Turkish domestic market are as follows:

All prices are ex-warehouse and on actual weight basis and exclude VAT.

$1 = TRY 3.50