Domestic rebar prices in Turkey decline further

Demand in the local Turkish rebar market has remained weak since August 15 due to the ongoing political tension in Turkey. Weak demand conditions have caused domestic rebar prices in Turkey to fall further in the same period. Additionally, the approach of the Feast of Sacrifice holiday has a negative effect on demand in the local rebar market and buyers are still concluding new deals only in line with their needs. 
 
Although domestic rebar prices on Turkish lira basis have declined in the current week due to currency fluctuations, prices in the local Turkish rebar market have mostly followed an upward trend on US dollar basis compared to price levels on August 15.
                   
As of today, August 18, traders' rebar offers in the Turkish domestic market are as follows:

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