The upward movement recorded in domestic rebar prices in Turkey towards the end of last week has continued in the current week with the Turkish lira losing significant strength against the US dollar. Buyers are postponing their rebar purchases amid the ongoing political tension in Turkey after the coup attempt on July 15 and due to the sharp changes recorded in the Turkish lira-US dollar exchange rate.
Market sources state that economic indicators in Turkey are currently showing some fluctuations due to the continuing political tension. As a result, buyers are waiting for a more stable economic outlook before concluding new rebar purchases.
Although domestic rebar prices on Turkish lira basis have risen in the current week, due to currency fluctuations prices in the local Turkish rebar market have followed diverse trends on US dollar basis compared to price levels on July 18.
As of today, July 21, traders' rebar offers in the Turkish domestic market are as follows:
| Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
| 18.07.2016 | 18.07.2016 | ||||||
| Marmara | 8 mm | 1,246 | 404 | ↑ | 60 | ↑ | 6 |
| Marmara | 12 mm | 1,229 | 399 | ↑ | 60 | ↑ | 7 |
| Iskenderun | 8 mm | 1,186 | 385 | ↑ | 33 | ↓ | 2 |
| Iskenderun | 10 mm | 1,178 | 382 | ↑ | 34 | ↓ | 2 |
| Iskenderun | 12 mm | 1,169 | 380 | ↑ | 33 | ↓ | 1 |
| Izmir | 8 mm | 1,203 | 391 | ↑ | 42 | ↑ | 1 |
| Izmir | 10 mm | 1,195 | 388 | ↑ | 42 | ↑ | 1 |
| Izmir | 12 mm | 1,186 | 385 | ↑ | 42 | ↑ | 1 |
| Karabuk | 8 mm | 1,212 | 393 | ↑ | 26 | ↓ | 5 |
| Karabuk | 12 mm | 1,195 | 388 | ↑ | 26 | ↓ | 4 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.08