Today, October 12, Turkish mill Icdas has cut its domestic rebar price in the local currency by TRY 40/mt to TRY 4,200/mt ex-works compared to Thursday, October 8, aiming to offset currency fluctuations and weaker scrap prices. At the same time, the producer’s price on US dollar basis has fallen by $3/mt to $450/mt ex-works.
Prices on Turkish lira basis include 18 percent VAT, while offers on US dollar basis do not.
$1 = TRY 7.90