TURKEY LONG STEEL: Prices keep rising on a weaker lira

Rebar and wire rod prices in the domestic market of Turkey continued to increase in local currency equivalent in the week to Thursday September 23 due to the ongoing weakening of the lira, sources told Fastmarkets.

The Turkish currency was trading at 8.635 lira to $1 on September 23, compared with 8.432 lira to $1 on September 16.
Market participants said that the weakening of the lira is connected with the change in the Central Bank interest rate from 19% to 18%, which was announced earlier in the week.

In...

Published

Vlada Novokreshchenova

September 24, 2021

12:40 GMT

Dnipro