Trading activity still slow in local Turkish rebar market

Trading activity in the local Turkish rebar market has remained very slow in the past week, just like in the previous week. Although the Turkish lira, which has been recording sharp depreciations against the US dollar for a while, has gained some strength against the dollar at the start of this week, buyers maintain a wait-and-see stance amid the fluctuations in the currency rates. Meanwhile, on Friday, November 25, the US dollar gained significant value against the Turkish lira and so traders in the local Turkish rebar market increased their prices by TRY 10-20/mt as compared to price levels on November 24. Since then, prices in the market have remained unchanged.   

 

As of today, November 25, 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 3.42