SteelOrbis has been informed that today, December 9, an Iskenderun-based Turkish mill has issued its rebar price at TRY 23,800/mt ($570/mt) ex-works, for an extended delivery period. In addition, the producer has released its wire rod price at $590/mt ex-works, also for an extended delivery period. The mill's rebar price indicates a decline of TRY 400/mt ($11/mt) compared to Wednesday, December 4. The main reasons are the sluggish demand and the negative sentiment in the import scrap segment. The exchange rate is taken as $1 = TRY 34.81 as the mill itself has not indicated any specific exchange rate.
According to sources, the rebar price in this region may gain momentum in the short term amid the establishment of a new government in Syria.
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