Today, September 24, Turkish mill Icdas has increased its official rebar price by TRY 95/mt to TRY 6,985/mt ($670/mt) ex-works since the beginning of this week, while the producer has kept its rebar price on US dollar basis. The exchange rate was $1 = TRY 8.71 at the beginning of this week, while it is standing at $1 = TRY 8.84 today, following Turkish Central Bank’s interest rate drop announcement yesterday.
The supplier has also issued its official wire rod price at TRY 8,030/mt ex-works ($770/mt) ex-works today, up by TRY 115/mt and remained unchanged and on US dollar basis over the same period. The producer is expected to revise its official rebar prices by early next week.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.84