During the past week, international demand for Turkish rebar has remained at low levels. In this period, Turkish rebar producers have not received any support from their domestic market as demand in the local Turkish rebar market has mostly been weak throughout the current week, despite the slight revival seen early yesterday, July12.
The reciprocal tariffs imposed by the US and China as well as the provisional measures against steel imports announced within the scope of the EU safeguard investigation have increased tensions in the global market, negatively influencing global steel trade. Turkish exporters’ rebar offers have decreased by an average of $10/mt week on week to $540-550/mt FOB on actual weight basis amid lower import scrap quotations in Turkey and also due to the weak demand conditions in Turkish exporters’ target markets.