Today, June 9, Turkish steel producer Icdas has increased its local rebar price by TRY 70/mt ($10/mt) to TRY 7,210/mt ($710/mt) ex-works amid the positive sentiment in the export segment and in the scrap market. The producer had been offering at $700/mt ex-works since the beginning of this week.
The producer has also issued its wire rod price today at TRY 8,330/mt ex-works, down by TRY 80/mt in the local currency since Friday, June 4, amid currency fluctuations. The offer on the US dollar basis has remained unchanged at $820/mt ex-works.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.60