Early today, September 6, Turkish mill Icdas opened its rebar sales at TRY 6,660/mt ($680/mt) ex-works. The offer has indicated a TRY 15/mt decline and remained stable on US dollar basis as compared to early last week.
According to sources, after the price announcement the mill closed some deals at a special price of TRY 6,465 ($660/mt) ex-works and afterwards decided to issue a new official offer price level for the second time in a single day at TRY 6,560/mt ($670/mt) ex-works.
The producer has also issued its official wire rod price at TRY 7,840/mt ($800/mt) ex-works, down by TRY 20/mt while stable on US dollar basis over the same period. The producer is trying to keep its wire rod price steady with the support of its nearly-full wire rod order books.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.30