Today, November 1, Turkish mill Icdas has kept its dollar-based official rebar price stable at TRY 8,460/mt ($750/mt) ex-works, down by TRY 180/mt week on week in the local currency. The key reasons are currency fluctuations and the sluggish demand in the local rebar market. The exchange rate was at $1 = TRY 9.76 on Monday, October 25.
The supplier has also issued its official wire rod price at TRY 9,590/mt ($850/mt) ex-works today, down by TRY 200/mt in the local currency 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 9.56