Today, November 6, Turkish mill Icdas has reduced its domestic rebar price in the local currency by TRY 20/mt to TRY 4,590/mt ($460/mt) ex-works, while late in the afternoon, yesterday, its wire rod price price increased by TRY 80/mt to TRY 5,490/mt ($550/mt) ex-works.
However, on US dollar basis, the producer’s longs prices have declined by $3-4/mt for both rebar and wire rod to $457/mt ex-works and $546/mt ex-works, respectively, given the current exchange rate. The exchange rate was at $1 = TRY 8.46 yesterday, while it is now at $1 = TRY 8.52. In these circumstances, the producer is expected to revise its prices again at short notice.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 8.52