Rebar prices started the last week before the feast with a decrease in Turkey. Markets are waiting for the Central Bank interest rate decision to be made on Thursday, 22 June. The expectation of an interest rate hike put pressure on rebar prices. Prices rapidly entered a downward trend.
İçdaş A.Ş., one of the leading producers in the steel market, reported Biga sales prices as $640 with a $10 discount.
Izmir region steelmakers announced $630 prices for rebar this week, down from $640 last week.
Steelmakers in the Gebze region also reported flat prices of $650 for rebar, although they are offering up to $645, but these prices are not in demand.
Payas rebar prices collapse
Although producer prices in the Payas region are resisting to go below $17,500/$627, offers are decreasing to $17,000 or even $16,800 while list prices are announced at $17,300 on the traders' side.
Turkey spot rebar prices
Current spot rebar prices evaluated by www.steelradar.com are as follows;
Istanbul rebar prices 17,400 TL (-200) / $624 (-6)
Izmir rebar prices 17,300 TL (-150) / $620 (-5)
Karabuk rebar prices 17,300 TL (-100) / $620 (-3)
Payas rebar prices 17,300 TL (-150) / $620 (-5)
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