Diverse trends in local Turkish rebar market

It is observed that demand in the local Turkish rebar market is at low levels as buyers consider domestic rebar prices to be very high and also due to the approach of the Feast of Sacrifice holiday (Aug. 31- Sept. 4). Market sources state that, having completed a busy period in terms of rebar purchases, Turkish buyers now prefer to monitor the market before resuming their rebar purchases. It is also reported that buyers are considering asking for discounts when they return to the local market after the Feast of Sacrifice holiday.  

Meanwhile, prices in the local Turkish rebar market have followed diverse trends since August 14. Domestic rebar prices in Turkey’s Iskenderun and Karabuk regions, where sharp increases were recorded at the beginning of the current week, have since indicated downward corrections. Compared to August 14, domestic rebar prices in Turkey’s Marmara region have increased, while prices in Izmir have remained stable.

As of today, August 17, 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 3.52