TURKEY LONG STEEL: Domestic rebar prices slip on lower scrap costs, limited demand

Turkish domestic long steel prices have been giving mixed signals between the effects of falling scrap costs and the weakening of the country’s lira, sources said on Thursday October 8.

Domestic rebar prices have gone down due to weak demand and the negative sentiment in the scrap markets, despite the weakening lira pushing them upward.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,080-4,140 lira ($519-527) per tonne on October 8, down from the 4,150-4,200 lira per tonne of last week, including 18% VAT.

The Turkish currency was trading at 7.86 lira to $1 on October 8, compared with...

Published

Cem Turken

October 08, 2020

16:23 GMT

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