Today, September 8, Turkish mill Icdas has opened its rebar sales at TRY 6,740/mt ($680/mt) ex-works, up by TRY 180/mt($10/mt) compared to Monday, September 6. The producer is seeking to raise its local prices due the silence in the local market and wants to avoid price cuts with only small transactions currently possible against the backdrop of the currency fluctuations in the local market. The general sentiment on the demand side is negative as Turkish construction contractors have announced that they will halt construction works across the country for 15 days as of September 9.
The producer has also issued its official wire rod price at TRY 7,930/mt ($800/mt) ex-works, up by TRY 90/mt and stable on US dollar basis over the same period.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.40