The increase in exchange rates in Turkey led to an increase in demand

Price increases continue in the days leading up to the elections in Turkey. Unable to predict which way the balance will go, market representatives are preparing to enter the next week with the least risk.

Turkey scrap prices fluctuate

Shipbreaking scrap prices in Turkey have fallen sharply by around $50 since last week to around $380. On the other hand, local scrap prices, which have been on a downward trend since April, have increased by $5-10 in the last two days. Import scrap prices have been fluctuating between $366-375.

Turkey's billet trade on the move

Turkey's billet trade, which has been in a slump since early April amid reduced demand, has revived. Yesterday, a producer in the Iskenderun region sold around 10,000 tons of billets at $595 to a rolling mill in the same region. The same producer was heard to have sold an additional 10,000 tons of billet at $605 today.

Rebar prices rise amid fears of an exchange rate hike

Election uncertainty in Turkey has raised concerns. The unstoppable rise in the dollar exchange rate is likely to lead to a depreciation of the Turkish Lira, leading to an increase in demand for steel products. The trader who wanted to fill the place of short sales due to the decline for a while took action.

Rebar prices increased with the rising demand. Icdas announced a price of $665 with a $5 increase, while Istanbul mills sold at $660 and Izmir mills closed their prices at $645-650.

Accordingly, spot rebar prices in Turkey have increased by $5 to $15 depending on the region.

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

Istanbul rebar prices 15.300 TL (+400) / 783,07 USD (+20,47)

İzmir rebar prices 15.000 TL (+100) / 767,72 USD (+5,12)

Karabük rebar prices 15.200 TL (+300) / 777,97 USD (+15,35)

Payas rebar prices 15.200 TL (+250) / 777,97 USD (+12,80)

(1 USD = 19,54 Turkish Lira)