Today, February 1, Turkish mill Icdas has cut its domestic rebar price in the local currency by TRY 190/mt to TRY 5,200/mt ($609/mt) ex-works, while its rebar price on US dollar basis has fallen by $12/mt compared to Wednesday, January 27, amid weaker scrap prices, currency fluctuations and sluggish demand. Meanwhile, the steelmaker has also issued its wire rod price at TRY 6,000/mt ($702/mt) ex-works, with the US dollar price down $18/mt over the same period.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.24