Today, August 8, Turkish steelmaker Icdas A.S. has increased its official rebar price on lira basis by TRY 425/mt to TRY 14,210/mt (670/mt) ex-works compared to the end of last week, against the backdrop of the positive sentiment in the import scrap segment. The supplier has also raised its wire rod price by TRY 425/mt to TRY 14,845/mt ($700/mt) ex-works. On US dollar basis, both long product prices indicate a $20/mt increase. Currently, most mills in the Marmara and Izmir regions are offering rebar at $660-680/mt ex-works.
$1 = TRY 17.97