An Iskenderun-based Turkish mill issued its official rebar price at TRY 27,700/mt ($554/mt) ex-works earlier today, October 6, for an extended delivery period. The mill's rebar price indicated a TRY 200/mt ($1/mt) rise compared to Monday, September 15. In addition, the mill hiked its rebar price by another TRY 150/mt ($3/mt) to TRY 27,850/mt ($557/mt) ex-works in the afternoon of the same day. The main reason for the hikes is the ongoing depreciation of the Turkish lira against the US dollar and costlier import scrap.
The producer has raised its 6.5 mm SAE 1008 grade wire rod price by $10/mt to $570/mt ex-works, also for an extended delivery period.
The exchange rate is taken as $1 = TRY 41.68 as the mill itself has not indicated any specific exchange rate.