What is happening in the Turkish rebar market?

Rebar continues to lose value in Turkey. Spot market prices decreased between $3-7.

In Turkey today, Kardemir A.S. opened rebar prices for sale at 17,700tl / $634. The factory announced that it closed its prices by selling 35,250 tonnes in a short time.

Kroman and Çolakoğlu Demir Çelik, one of the iron and steel factories in the Istanbul region, withdrew their rebar sales prices by 200tl and announced them as 18,250tl / $653. Many iron and steel mills in the Payas region closed prices or announced high prices in order to prevent price decreases. Although the iron and steel mills in the Izmir region said that they would not go below $ 640, sales were made with the prediction that this figure could be bought by the traders.

While the dollar balance directs the demand in the market, the factories seem to resist price drops in order not to lose the little demand in the market.

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

Istanbul rebar prices 17,800 TL (0.00) / $641 (-4)

Izmir rebar prices 17,650 TL (-50) / $637 (-5)

Karabuk rebar prices 17,500 TL (0.00) / $627 (-3)

Payas rebar prices 17,600 TL (-100) / $630 (-7)