Diverse trends in local Turkish rebar market

Although the local Turkish rebar market made an upward start to the current week due to the sharp depreciation of the Turkish lira against the US dollar at the beginning of the week and also due to the slight improvement seen in rebar purchases, trading activity in the market dropped to low levels once again as of Tuesday, October 10. Meanwhile, domestic rebar prices in Turkey moved upwards until mid-week with the influence of the changes seen in the Turkish lira-US dollar exchange rate. Since then, it is observed that domestic rebar prices have followed diverse trends, with rebar quotations in Turkey’s Izmir region declining compared to price levels in SteelOrbis’ report on October 9, while prices in the Karabuk region have increased in the same period. In the Marmara and Iskenderun regions, domestic rebar prices have indicated a sideways movement.

As of today, October 12, traders’ rebar offers in the Turkish domestic market are as follows:

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

$1 = TRY 3.66