Today, February 28, Icdas A.S. has increased its official rebar price by TRY 95/mt to TRY 12,410/mt ($760/mt) ex-works. The supplier has also raised its wire rod price by TRY 75/mt to TRY 13,720/mt ($840/mt) ex-works. Both longs prices indicate a $20/mt increase on US dollar basis.The main reasons for the increase are currency fluctuations, the unclear financial situation in the country and the positive sentiment in the billet segment.
$1 = TRY 13.84