Today, August 2023 CBRT meeting in Türkiye was held under the chairmanship of Hafize Gaye Erkan. In the announcement made by the CBRT regarding interest rates, it was reported that the Central Bank decided to increase the policy rate to 25 percent.
Dollar / TL experienced a decrease of more than 5 percent after the decision. The dollar rate, which was at 27.20 levels before the announcement, increased to 25.37 after the interest rate decision.
After the sharp fall in the exchange rate, the balances in the iron and steel markets were also confused. Icdas A.S. While the prices announced as $590 in the morning were based on the rate of 27.30, after the interest rate decision, a factory in the Aegean region took the rate of 27.00 at the price announced as $585.
While the prices in the spot market in Turkey were uneven, the average prices decreased by 100-200 TL according to the regions. Some sellers, panicked with the fear that the price will come back even more, offer 100-200 TL lower than the given prices.
August 24, 2023 The spot rebar prices by region as evaluated by www.steelradar.com are as follows;
Istanbul rebar prices 19.200 TL (-200) VAT incl.
Izmir rebar prices 19.000 TL (-200) VAT incl.
Karabuk rebar prices 19.100 TL (-100) VAT incl.
Payas rebar prices 19.100 TL (-200) VAT incl.
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