Difficulties in commercial loans led to lower prices

Although some of Turkey's iron and steel factories resisted lowering their prices, due to difficulties in commercial loans and cash-to-cash cycle, some factories had to lower their rebar sales prices to as low as $680.

Habaş A.Ş. stated that it would not go below $700, even for tonnage requests. Baştuğ revised its price to $700 yesterday, closing at a price of $690 during the day, and opened it for sale today at $710. However, Tosyalı's announcement of rebar prices at $680 with a $10 discount today did not have a positive effect on the market as expected.

While some analysts consider the $680 level as a resistance level, the breaking of this level is seen as an indicator that prices will continue to move downward.

Although the market's expectations remain positive after the holiday, it is predicted that difficulties will continue as long as there is no revival in the economy. In this case, most expectations seem to be postponed until after the elections.

Here are the rebar prices of some iron and steel factories in Turkey: