Today, June 28, Turkish steel producer Icdas has decreased its local rebar price by TRY 40/mt to TRY 7,440/mt ($720/mt) ex-works due to weaker demand, currency fluctuations and the lack of clarity in the import scrap segment. The producer has also issued its wire rod price today at TRY 8,475/mt ($820/mt) ex-works, down by TRY 25/mt. The producer’s rebar and wire rod prices have fallen by $10/mt since the end of last week.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.76
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