Turkish rebar exceeds $640/mt ex-works with new mill hikes

摘要

Bursa—Turkish long steel producers pulled up their lira-denominated domestic rebar list prices further for the third consecutive day on Feb. 24, amid rising scrap costs, firm demand and accelerated Turkish lira depreciation. Major producer Icdas adjusted its prices three times within a day on Feb. 24 due to Lira depreciation against the US dollar. The company started offering 12-32 mm rebar higher at Lira 5,350/mt ex-works Biga in a bullish pricing sentiment on Feb. 24 afternoon, including 18% value-added tax (VAT), which equated to $633/mt ex-works, excluding VAT. The exchange rate was Lira 7.16/$1 on Feb. 24 afternoon.