Transaction activity in the local Turkish rebar market has slowed down significantly one week ahead of the end-of-Ramadan holiday (July 4-7), with demand remaining sluggish in the given period. Over the past week, the Turkish lira has lost strength against the US dollar, causing domestic rebar prices in Turkey to move up slightly, though prices on US dollar basis have fallen by $1-4/mt due to the fluctuation of the exchange rate. However, market sources state that the rises seen in domestic rebar prices will not impact actual deals if they are not supported by an improvement in demand. Demand in the local Turkish rebar market is expected to remain at low levels this week, but is foreseen to improve after the holiday.
As of today, June 27, traders' rebar offers in the Turkish domestic market are as follows:
| Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
| 23.06.2016 | 23.06.2016 | ||||||
| Marmara | 8 mm | 1,195 | 406 | ↑ | 17 | ↓ | -4 |
| Marmara | 12 mm | 1,178 | 401 | ↑ | 17 | ↓ | -4 |
| Iskenderun | 8 mm | 1,136 | 386 | ↑ | 26 | ↓ | -1 |
| Iskenderun | 10 mm | 1,127 | 383 | ↑ | 25 | ↓ | -1 |
| Iskenderun | 12 mm | 1,119 | 380 | ↑ | 26 | ↓ | -1 |
| Izmir | 8 mm | 1,169 | 398 | ↑ | 25 | ↓ | -1 |
| Izmir | 10 mm | 1,161 | 395 | ↑ | 25 | ↓ | -1 |
| Izmir | 12 mm | 1,153 | 392 | ↑ | 26 | ↓ | -1 |
| Karabuk | 8 mm | 1,178 | 401 | ↑ | 25 | ↓ | -1 |
| Karabuk | 12 mm | 1,161 | 395 | ↑ | 25 | ↓ | -1 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.94