Today, Friday, August 6, Turkish steel producer Icdas has announced its local rebar price at TRY 7,200/mt ($710/mt), up by TRY 180/mt since the beginning of this week amid currency fluctuations. The exchange rate was at $1 = TRY 8.38 at the beginning of this week, while it is currently at $1 = TRY 8.59. The producer has also issued its wire rod price today at TRY 8,315/mt ($820/mt) ex-works, with its price on Turkish lira basis up by TRY 205/mt over the same period.The producer has kept its official dollar-based longs price stable since Monday, August 2, and prefers to issue special offer prices for limited rebar tonnages from time to time.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.59