Expected hikes postponed, rebar prices ready to decline

According to Bloomberg HT, industry sources reported that no hike in electricity tariffs is expected until October 1.

While fuel prices increased significantly due to the increase in Brent oil prices as well as the continued rise in the exchange rate, the expected increase in electricity was postponed to 1 October in order not to reflect the costs on the invoices in the summer period.

While producer-based prices varied between $555-570, spot market prices remained flat compared to Friday. However, demand stopped again and expectations fell to 17.500tl.

Rebar prices according to regions, evaluated by www.steelradar.com are as follows;

Istanbul rebar prices 18,100 TL (0,0) / $569 (0,0)

Izmir rebar prices 18,000 TL (0,0) / $566 (0,0)

Karabuk rebar prices 18,100 TL (0,0) / $569 (0,0)

Payas rebar prices 18,000 TL (0,0) / $566 (0,0)