How did interest rate decisions affect Turkey's rebar prices?

Global markets were focused on the Fed's decision. With the bankruptcy of two banks in the USA, the possibility of the Fed's moderate interest rate hikes increased. Taking this into account, the Fed increased the interest rate by 25 basis points and increased the interest rate from 4.75 percent to 5 percent. The Central Bank of the Republic of Turkey (CBRT) kept the policy rate constant at 8.50 percent.

Expected interest rate decisions did not affect the direction of rebar prices in Turkey. The market continues to be weak.

The current rebar prices evaluated by www.steelradar.com are as follows;

İstanbul rebar prices 16.600 TL (0,00)

İzmir rebar prices 16.500 TL (0,00)

Karabük rebar prices 16.600 TL (0,00)

Payas rebar prices 16.500 TL (-50)