Turkish rebar market shows no reaction to stronger dollar

Despite the depreciation of the Turkish lira against the US dollar, rebar prices in the Turkish domestic market have not showed any increases. As of today, May 14, local traders' 12 mm rebar prices are standing at TRY 1,161-1,186/mt ($645-660/mt) + VAT ex-warehouse. In the meantime, it is thought that current domestic rebar prices on dollar basis as low as $645-660/mt + VAT may also push down Turkey's rebar export offers.
 
Rebar demand in the Turkish domestic market has remained low, with buyers delaying their bookings. Market players are waiting for local producer Kardemir to open its rebar sales this week with new prices. Only then is the market expected to revive.
 
$1 = TRY 1.80