Demand revives in Turkish rebar market, prices remain strong

In the Turkish domestic market, traders' 12 mm rebar prices increased yesterday, March 22, to TRY 1,216-1,237/mt ($672-683/mt)+ VAT ex-warehouse, depending on the region. While traders' rebar prices in the local Turkish market have not changed since yesterday, demand has increased as compared to early this week and has now reached desired levels.
 
Traders in the Turkish local market state that to make a long-term prediction for the domestic rebar market is quite difficult as it would depend on factors like the long-term market situation, the future trend of the US dollar/Turkish lira exchange rate and Turkish rebar's performance in the export markets.
 
In this week's Turkish domestic rebar market, shipment activity has increased and the market is expected to become more active as the current month is drawing to a close, while there is a possibility of an upward correction in rebar prices.    
 
$1 = TRY 1.81