During the past week, demand in the local Turkish rebar market has remained at low levels, while rebar prices in the domestic market have declined further compared to May 16. In the middle of last week, some Turkish traders, particularly those in southern Turkey, concluded rebar deals at price levels significantly lower than average market quotations, while these reduced price levels have no longer been available as of May 20.
Although Turkish buyers state they wish to step up their rebar purchases before the start of Ramadan (begins June 6), they continue to postpone their purchases except to meet their immediate needs, against the backdrop of the Turkish lira loosing strength to TRY 2.98 against the US dollar compared to TRY 2.79 recorded at the beginning of May and amid expectations in the local Turkish market for a further decline in domestic rebar prices.
As of today, May 23, traders' rebar offers in the Turkish domestic market are as follows:
| Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
| 16.05.2016 | 16.05.2016 | ||||||
| Marmara | 8 mm | 1,339 | 449 | ↓ | 34 | ↓ | 15 |
| Marmara | 12 mm | 1,322 | 444 | ↓ | 34 | ↓ | 14 |
| Iskenderun | 8 mm | 1,246 | 418 | ↓ | 25 | ↓ | 11 |
| Iskenderun | 10 mm | 1,237 | 415 | ↓ | 26 | ↓ | 12 |
| Iskenderun | 12 mm | 1,229 | 412 | ↓ | 25 | ↓ | 12 |
| Izmir | 8 mm | 1,305 | 438 | ↓ | 9 | ↓ | 6 |
| Izmir | 10 mm | 1,297 | 435 | ↓ | 8 | ↓ | 6 |
| Izmir | 12 mm | 1,288 | 432 | ↓ | 9 | ↓ | 6 |
| Karabuk | 8 mm | 1,280 | 429 | ↓ | 25 | ↓ | 12 |
| Karabuk | 12 mm | 1,263 | 424 | ↓ | 25 | ↓ | 11 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.98