Turkish steelmaker Icdas A.S. has reduced its official dollar-based rebar and wire rod prices by $30/mt and $40/mt respectively amid weaker import scrap prices, the negative sentiment in the import scrap segment, and the depreciation of the Turkish lira against the US dollar. The mill has cut its official rebar price on lira basis by TRY 640/mt to TRY 15,165/mt ($660/mt) ex-works, as compared to Monday, April 24. The supplier has also decreased its wire rod price by TRY 865/mt to TRY 15,395/mt ($670/mt) ex-works over the same period.
$1 = TRY 19.47