Today, March 29, Turkish mill Icdas has raised its domestic rebar price in the local currency by TRY 70/mt to TRY 5,920/mt ex-works, as compared to Wednesday, March 24, amid ongoing currency fluctuations. The US dollar equivalent of the offer has moved sideways at $620/mt ex-works. Meanwhile, on the same day the steelmaker has also issued its wire rod price at TRY 6,780/mt ($710/mt) ex-works, up by TRY 80/mt in the local currency over the same period, while stable on US dollar basis. The producer’s longs prices on US dollar basis have remained unchanged at $620/mt and $710/mt ex-works respectively since Monday, March 22.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.09