Today, July 2, Turkish steel producer Icdas has reduced its local rebar price by TRY 60/mt to TRY 7,380/mt ex-works amid currency fluctuations and sluggish demand ahead of the holidays. The producer has also issued its wire rod price today at TRY 8,410/mt ex-works, down by TRY 65/mt. The producer has kept its rebar and wire rod prices on US dollar basis at $720/mt ex-works and $820/mt ex-works, respectively, since the beginning of the week.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.69