Today, October 6, Turkish mill Icdas has increased its official rebar price by TRY 160/mt to TRY 7,180/mt ($680/mt) ex-works as compared to the start of the week, against the backdrop of currency fluctuations and the positive sentiment in the import scrap segment.
The supplier has also issued its official wire rod price at TRY 8,230/mt ($780/mt) ex-works today, up by TRY 160/mt over the same period. The abovementioned longs prices indicate a $10/mt increase on US dollar basis since the beginning of this week. The exchange rate had been at $1 = TRY 8.88 on Monday, October 4.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.945