Today, May 9, Turkish steelmaker Icdas A.S. has decreased its official rebar price on lira basis by TRY 535/mt to TRY 15,390/mt ($870/mt) ex-works, as compared to Friday, April 29. The main reasons are the negative sentiment in the import scrap segment, sluggish demand, and currency fluctuations. The supplier has also cut its wire rod price by TRY 515/mt to TRY 17,160/mt ($970/mt) ex-works. Both prices indicate a $40/mt decrease on US dollar basis.
$1 = TRY 14.99