Today, July 22, Turkish steelmaker Icdas A.S. has increased its official rebar price on lira basis by TRY 230/mt to TRY 15,090/mt ($720/mt) ex-works, as compared to the start of the week, to offset currency fluctuations. The supplier has also raised its wire rod price by TRY 245/mt to TRY 15,930/mt ($760/mt) ex-works. On US dollar basis, both prices have remained stable over the same period.
The workable rebar price in Turkey was at around $700/mt ex-works and slightly below earlier this week due to the depreciation of the Turkish lira against US dollar and the negative sentiment in the import scrap segment. Moreover, small tonnages of rebar were traded at $670/mt ex-works in the Marmara region yesterday.
$1 = TRY 17.76