Also, it should be considered that some mills may give offers below these levels depending on their stocks.
Offers in the local Turkish merchant bar market have this week been revised upward by a further TRY 30-50/mt ($14-24/mt) on the back of the surge in the strength of the US dollar against the Turkish lira and increased political tensions in the international arena. Market players state that currently buying activities are at good levels amid expectations that prices will continue to rise. Meanwhile, as the Turkish merchant bar market continues to be more stable as compared to the domestic rebar market, there have not been any significant decreases in local merchant bar trading activity in the past two weeks despite the uncertainty in the market.
US $1 = TRY 2.07
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