Today, August 2, Turkish steel producer Icdas has decreased its local rebar price by TRY 270/mt to TRY 7,020/mt ($710/mt) ex-works compared to the end of last week amid currency fluctuations and weaker scrap prices. The producer has also issued its wire rod price today at TRY 8,110/mt ($820/mt) ex-works, with its price down by TRY 175/mt over the same period. After the recent changes, the producer has decreased its rebar price by $20/mt on US dollar basis, while its wire rod price has fallen by $10/mt over the same period.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.38