Today, March 1, Turkish mill Icdas has decreased its domestic rebar price in the local currency by TRY 100/mt to TRY 5,530/mt ex-works amid the rapid currency fluctuations since Friday, February 26. The US dollar equivalent of the offer has fallen by $12/mt to $640/mt ex-works. Meanwhile, the steelmaker has also issued its wire rod price at TRY 6,220/mt ($720/mt) ex-works, down by TRY 110/mt ($13/mt) on the same day.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.32