Turkish steelmaker Icdas A.S. has cut its dollar-based longs prices by $10/mt against the backdrop of the negative sentiment in the import scrap segment and the depreciation of the Turkish lira against the US dollar. The mill has reduced its official rebar price on lira basis by TRY 105/mt to TRY 15,805/mt ($690/mt) ex-works, as compared to Monday, April 10. The supplier has also cut its wire rod price by TRY 105/mt to TRY 16,260/mt ($710/mt) ex-works over the same period.
$1 = TRY 19.41