Today, February 4, Turkish mill Icdas has cut its domestic rebar price in the local currency by TRY 140/mt to TRY 5,000/mt ($590/mt) ex-works, while its rebar price on US dollar basis has dropped by $20/mt compared to Tuesday, February 2, to offset the currency fluctuations and the negative sentiment in the import scrap segment. Meanwhile, the steelmaker has also issued its wire rod price at TRY 5,750/mt ($679/mt) ex-works, with the US dollar price down $27/mt.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.18