Today, March 19, Turkish mill Icdas has reduced its domestic rebar price in the local currency by TRY 190/mt to TRY 5,510/mt ex-works compared to Tuesday, March 16, due to currency fluctuations. The US dollar equivalent of the offer has been set at $640/mt ex-works. Meanwhile, on the same day the steelmaker has also issued its wire rod price at TRY 6,200/mt ($720/mt) ex-works, down by TRY 200/mt in the local currency over the same period. The producer’s rebar and wire rod prices on US dollar basis have remained unchanged at $640 and $720/mt respectively at the current exchange rate since the beginning of this week.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.30