Turkish steelmaker Icdas A.S. has decreased its longs prices in the local currency amid weaker import scrap and billet prices and sluggish demand, as compared to last week. The mill has cut its official rebar price on lira basis by TRY 555/mt to TRY 17,070/mt ($590/mt) ex-works. The supplier has also decreased its wire rod price by TRY 315/mt to TRY 17,505/mt ($605/mt) ex-works. Both long product prices include 10 percent VAT and have decreased by $30/mt and $25/mt respectively on US dollar basis over the same period.
$1 = TRY 26.30