Today, February 26, Turkish steelmaker Icdas A.S. has cut its rebar and wire rod prices by $20/mt and $10/mt respectively compared to last month. The main reasons are the negative sentiment in the import scrap segment, the rapid depreciation of the Turkish lira against the US dollar and sluggish demand. The mill has issued its official rebar price at TRY 21,215/mt ($620/mt) ex-works. The supplier also has issued its wire rod price at TRY 21,900/mt ($640/mt) ex-works. Both long product prices include 10 percent VAT.
A few Marmara-based mills are offering rebar at $625/mt ex-works today, SteelOrbis has heard.
$1 = TRY 31.11
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