Quiet trading activity in local Turkish rebar market

At the beginning of February, domestic rebar quotations in Turkey started to move up in line with the upward movement of import scrap prices, while demand in the local Turkish rebar market increased slightly as buyers accepted the rises in domestic rebar prices. Although domestic rebar prices mostly declined in the middle of last week as sellers offered occasional discounts due to the cash flow problems experienced in the market, they have once again increased in subsequent days with the support of the ongoing uptrend of import scrap prices.  Today, February 20, it is observed that domestic rebar quotations have remained unchanged compared to the levels recorded on February 16, though prices on US dollar basis in the overall domestic market have moved up by $6/mt due to the fluctuation of the exchange rate. Meanwhile, trading activity in the local Turkish rebar market declined slightly at the end of last week and, with demand at low levels, trading activity in the market has made a quiet start to the current week.
 
As of today, February 20, traders' rebar offers in the Turkish domestic market are as follows: