Rapid increase in local Turkish rebar market

Domestic rebar prices in Turkey, which had made an upward start to the current week, have increased rapidly since then amid factors including the change of trend seen in import scrap prices in Turkey which had been declining for a while, the resumption of restocking activities in the local Turkish rebar market, and the depreciation of the Turkish lira against the US dollar. Domestic rebar prices in Turkey are expected to increase further in the short term as buyers have accelerated their domestic rebar purchases due to their low inventory levels, given the expectation of a further rise in prices and also due to the tightness of rebar supply in the market.

As of today, February 8, 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 3.80