turkey’s ICDAS adds $5/t to its local rebar price middle east / long products

Turkey’s biggest longs maker ICDAS has increased its domestic rebar offers in line with the general market uptrend, being supported by rising scrap and billet tags as well as improvi domestic demand.

ICDAS rebar price increased by TRY 30/t to TRY 2,990/t EXW Biga. That in the US dollar terms gained $5/t, coming to $440/t EXW Biga. Integrated Kardemir, which started receiving inquiries for rebar at $434/t (TRY 2,944.10/t) EXW, has closed sales today with the total result of 28,000 t.

In the meantime, the general price range for Turkish rebar is also moving up, with most official offers from mills being at $440-445/t EXW versus $435-440/t EXW on December 5. Market participants noted recovery in business activity in the Turkish domestic market over the week, which supported long steel manufacturers. “Al- most all producers were able to sell rebar to local customers. But it is possible that there will be a lull again next week,” a local source told Metal expert.

Prices in the lira include 18% VAT, those in the US dollars are tax-exclusive. Currency rate $1 = TRY5.76.