The expected Central Bank interest rate decision was announced.
The Central Bank of the Republic of Turkey decided to increase the interest rate from 15 percent to 17.5 percent. While the decision was below the economists' forecast, iron and steel markets are signalling a decrease. Producer prices in the Istanbul region continued to be quoted at $590-600, while spot market prices (-200tl/-6$) decreased to 18,600tl/585$.
According to www.steelradar.com, rebar prices by region are as follows;
Istanbul rebar prices 18,600 TL (-200) / $585 (-6)
Izmir rebar prices 18.500 TL (0,00) / 583 $
Karabuk rebar prices 18.600 TL (0,00) / 587 $
Payas rebar prices 18.600 TL (0,00) / 587 $
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