Today, February 24, Turkish mill Icdas has increased its domestic rebar price for the third time in a row, aiming to offset continuing currency fluctuations. The rebar offer has increased by another TRY 20/mt to TRY 5,350/mt ex-works. The US dollar equivalent of the offer has only increased by $2/mt to $632/mt ex-works. Meanwhile, the steelmaker has also issued its wire rod price at TRY 6,050/mt ($715/mt) ex-works, stable both in the local currency and on US dollar basis compared to this afternoon.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.17