Turkish steelmaker Icdas A.S. increased its longs prices by $5/mt yesterday, May 10, and the mill has raised its official dollar-based rebar and wire rod prices by another $5/mt today amid the depreciation of the Turkish lira against the US dollar and some traders restocking material ahead of the elections on Sunday, May 14. The mill has increased its official rebar price on lira basis by TRY 305/mt to TRY 15,470/mt ($670/mt) ex-works, as compared to Tuesday, May 2. The supplier has also raised its wire rod price by TRY 305/mt to TRY 15,700/mt ($680/mt) ex-works over the same period.
$1 = TRY 19.57