SteelOrbis has been informed that today, June 23, an Iskenderun-based Turkish mill issued its official mesh grade wire rod price at TRY 15,500/mt ($605/mt) ex-works today at noon, excluding VAT, rising by TRY 300/mt while falling by $40/mt on US dollar basis, compared to Tuesday, June 20, in order to offset the currency fluctuations and generate sales. In addition, the mill has also increased its wire rod price by another TRY 250/mt ($10/mt) to TRY 15,750/mt ($615/mt) ex-works later this afternoon. Moreover, the mill has issued its rebar price at TRY 17,650/mt ($585/mt) ex-works today, up TRY 200/mt, while falling by $42/mt over the same period. VAT is taken as 18 percent. The exchange rate is taken as $1 = TRY 25,60 as the mill itself has not indicated any specific exchange rate.
It is worth mentioning that these price levels seem very low as regards to the general rebar price range. Sources report that it might be possible that VAT taken into account as 9 percent instead of 18 per cent, then the mill's rebar and wire rod price equals to $615/mt and $633/mt ex-works respectively.
Most Marmara-based mills are offering rebar at $640-650/mt ex-works, including Icdas A.S today. In addition, one Iskenderun-based re-roller opened its rebar sales at TRY 18,700/mt ($619/mt) ex-warehouse earlier today. Small tonnage rebar lot sale was also rumored at TRY 18,065/mt ex-works ($598/mt) ex-works in the Izmir region yesterday, it has not been confirmed by the time of publication.
Most Turkish mills are expected to close their rebar sales in the afternoon due to the ongoing depreciation of Turkish lira against US dollar and to revise its rebar prices by early next week or after the holiday period.
$1 = TRY 25.60