An Iskenderun-based Turkish mill issued its official rebar price at TRY 28,300/mt ($565/mt) ex-works earlier today, October 9, for an extended delivery period. The mill's rebar price indicated a TRY 300/mt ($5/mt) rise compared to Tuesday, October 7. The main reason for the hike is the ongoing depreciation of the Turkish lira and the positive sentiment in the import scrap segment.
The producer has kept its 6.5 mm SAE 1008 grade wire rod price at $570/mt ex-works so far, also for an extended delivery period.
The exchange rate is taken as $1 = TRY 41.72 as the mill itself has not indicated any specific exchange rate.