Today, March 16, Turkish mill Icdas has decreased its domestic rebar price in the local currency by TRY 30/mt to TRY 5,700/mt ex-works amid currency fluctuations. The US dollar equivalent of the offer has been set at $642/mt ex-works. The currency rate was $1 = TRY 7.53 earlier today. Meanwhile, on the same day the steelmaker also issued its wire rod price at TRY 6,400/mt ($720/mt) ex-works, down by TRY 40/mt in the local currency. Moreover, the producer’s rebar and wire rod prices on US dollar basis have risen by $3 and $4/mt respectively to $645 and $724/mt ex-works at the current exchange rate.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.49