Today, January 8, Turkish steelmaker Icdas A.S. has increased its rebar price as compared to Monday, December 11, amid the ongoing currency fluctuations and the positive sentiment in the import scrap and billet segments. The mill has hiked its official rebar price on lira basis by TRY 940/mt to TRY 20,720/mt ($630/mt) ex-works. The supplier has also raised its wire rod price, by TRY 630/mt, in order to offset currency fluctuations to TRY 21,050/mt ($640/mt) ex-works. Both long product prices include 10 percent VAT. The rebar prices have risen by $10/mt, while the dollar-based wire rod prices have remained stable over the same period.
$1 = TRY 29.90