Despite the rising dollar exchange rate in Türkiye, rebar prices have failed to increase due to insufficient demand.
Producer prices, which were in the range of $600-620/ton in early March, fell to $595-610/ton due to lack of demand. In the face of falling prices, 80/20 scrap prices fell as low as $367/ton. Producers further lowered their offers to buy scrap.
However, they could not buy at the prices they expected. Thinking that the producers had no stocks and had to buy, scrap dealers raised their prices in the opposite direction. This halted the decline in producer prices. The rebound in scrap prices in the local market contributed to some trading activity, albeit limited. However, this week's rising inventories and the significant fall in Chinese ore prices indicate that the negative trend in the markets continues.
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