The new interest rate did not meet the expectations, rebar prices shocked the market

The Central Bank increased interest rates after 27 months. The policy rate, which rose to 15% in the market, where the general expectations are for a higher interest rate increase, had a strong impact on the iron and steel market in the medium and long term. Rebar prices increased by 10% on average in two days, increasing from 16.600-17.300 TL to 18.100-19.000 TL.

While Icdas A.S. prices remain flat at the level of $640 today, the Turkish lira equivalent of its prices increased by close to 1500 TL due to the increase in the exchange rate.

While the producers in the Istanbul region reported prices at the level of $640-650, Tosyalı operating in the Iskenderun region announced a price of 17,650 TL including VAT for July delivery. This price, which corresponds to the level of $ 585, stunned the market.

While many sellers were looking for a balance in prices, some sellers said that they withdrew from the sale because they wanted to see after the sacrifice feast.

Türkiye spot rebar prices

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

Istanbul rebar prices 19.000 TL (1200) / 629 $ (+16)

Izmir rebar prices 18,600 TL (-900) / 612 $ (+6)

Karabuk rebar prices 18,100 TL (-800) / 599 $ (+3)

Payas rebar prices 18,500 TL (1200) / 612 $ (616)