An Iskenderun-based Turkish mill issued its official rebar price at TRY 28,000/mt ($560/mt) ex-works earlier today, October 7, for an extended delivery period. The mill's rebar price indicated a TRY 150/mt ($3/mt) rise from the previous day. The main reason for the hike is the ongoing depreciation of the Turkish lira against the US dollar and the positive sentiment in the import scrap segment.
The mill has today also set its 10 mm and 8 mm conversion costs at TRY 1,250/mt($30/mt) and TRY 1,500/mt ($36/mt), respectively.
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 41.70 as the mill itself has not indicated any specific exchange rate.