Today, March 8, Turkish mill Icdas has increased its domestic rebar price in the local currency by TRY 20/mt to TRY 5,710/mt ex-works in order to offset the currency fluctuations. The US dollar equivalent of the offer has remained unchanged at $640/mt ex-works. Meanwhile, on the same day the steelmaker has also issued its wire rod price at TRY 6,520/mt ($730/mt) ex-works, up by TRY 30/mt in the local currency, while stable on US dollar basis.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.56