SteelOrbis has been informed that, today, February 28, an Iskenderun-based Turkish mill has cut its rebar price by TRY 500/mt ($19/mt), compared to Tuesday, February 20, to TRY 23,500/mt ($628/mt) ex-works, against the backdrop of the ongoing currency fluctuations, the negative sentiment in the import scrap segment, and sluggish demand. In addition, the mill has also cut its wire rod price by another $10/mt to $630/mt ex-works today. The mill had reduced its wire rod price by $10/mt to $640/mt ex-works earlier this week. The exchange rate is taken as $1 = TRY 31.19 as the mill itself has not indicated any specific exchange rate.
Currently, most mills in the Marmara and Izmir regions are offering official rebar prices at $605-625/mt ex-works.
$1 = TRY 31.19
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