Turkish domestic rebar market sees significant slowdown of its upward movement

It is observed that buyers are cautious given the sharp rises seen in local Turkish rebar prices at the end of July and so they now prefer to postpone their domestic rebar purchases. Despite the significant rises in import scrap and domestic billet quotations in Turkey since the beginning of the current week, the upward movement of domestic rebar prices has slowed down significantly due to the weakness of demand. Meanwhile, domestic rebar prices in Turkey have increased by TRY 10-20/mt since July 31, except in Turkey’s Marmara region where prices have remained stable. 

As of today, August 3, 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 3.54