Iskenderun-based Turkish mill cut its rebar price sharply

An Iskenderun-based Turkish mill has cut its official rebar price by TRY 600/mt ($12/mt) to TRY 25,650/mt ($552/mt) ex-works today, May 15, with its aggressive pricing policy, for an extended delivery period, as compared to yesterday. The producer has kept its 6.5 mm SAE 1008 grade wire rod price unchanged at $585/mt ex-works, also for an extended delivery period. The exchange rate is taken as $1 = TRY 38.70 as the mill itself has not indicated any specific exchange rate.