Turkish steelmaker Icdas A.S. has revised its longs prices after a long break, amid the ongoing currency fluctuations and the negative sentiment in the import scrap segment. The mill has cut its official rebar price on lira basis by TRY 30/mt to TRY 17,495/mt ($570/mt) ex-works compared to Friday, August 25. The supplier has also decreased its wire rod price, by TRY 20/mt to TRY 17,800/mt ($580/mt) ex-works. Both long product prices include 10 percent VAT and are down by $20/mt on US dollar basis.
The mill had previously updated its official rebar price on August 14 and had kept its official dollar-based rebar price stable over a long period.
Most Marmara-based and Izmir-based mills are offering their official rebar prices at $555-580/mt ex-works today.