Turkey’s Icdas cuts domestic longs prices sharply

Thursday, 03 June 2021 14:44:02 (GMT+3)   |   Istanbul

Today, June 3, Turkish steel producer Icdas has decreased its local rebar price by TRY 290/mt ($40/mt) compared to earlier this week to TRY 7,130/mt ($700/mt) ex-works amid uncertain sentiment in the import scrap segment and sluggish demand. With this move, the supplier’s offer is now in line with most other producers in the local market, with producers’ general price range standing at $700-720/mt ex-works, with even lower prices seen in deals as the producers have been trying to generate sales.

The producer has also issued its wire rod price today at TRY 8,350/mt ex-works, down by TRY 75/mt over the same period. The offer on the US dollar basis has dropped by $20/mt to $820/mt ex-works.

Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.

$1 = TRY 8.63

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