Today, November 24, Turkish mill Icdas has increased its domestic rebar price by another TRY 160 to TRY 4,800/mt ($515/mt) ex-works, while its dollar-based rebar price has risen by $10/mt due to exchange rate fluctuations and the positive sentiment in the scrap segment. Meanwhile, the steelmaker’s wire rod price price has also risen by TRY 160/mt and is currently at TRY 5,550/mt ($595/mt) ex-works. The producer’s wire rod price on US dollar basis has moved up by $8/mt. The producer is expected to revise its long prices at short notice due to the ongoing rapid currency fluctuations.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.90