Price range narrows in Turkish rebar market

In this week's Turkish domestic rebar market, prices and demand have remained unchanged as compared to last week when no significant changes were observed in the market. With the sluggishness of the construction industry, and many constructors delaying new projects or even suspending ongoing projects, the domestic rebar market may witness depressed demand levels in the coming period. Besides, slower house sales are also affecting the rebar local market negatively.
 
This week, traders' 12 mm rebar prices in the Turkish domestic market are standing at TRY 1,127-1,144/mt ($616-625/mt) + VAT ex-warehouse, a significantly narrower price range as compared to previous months, as traders are facing difficulties in selling to end-users rebar which they had bought from producers at higher prices. While it is thought that rebar prices in the Turkish domestic spot market will keep trending at current prices for another while, the market may see some increase in activity this week as the end of the month is approaching, though this is not expected to be reflected in prices.
 
On the other hand, if the current silence prevails in the Turkish domestic rebar market, Turkish rebar export offers may indicate some softening.
 
$1 = TRY 1.83