Reportedly, the two major steelmakers in Turkey, Kardemir and Icdas, both announced to increase bar prices for the Turkish domestic market and the new prices will be effective from January 7th. The two companies explained that the adjustment is because of the sharp depreciation of the lira recently. However, the two companies also pointed out that the domestic market demand is still very weak. Kardemir new sales price for round bar is now at US$584/ton ex works, increasing by US$34/ton. Meanwhile Icdas adjusted its new sales price for 12-32mm diameter rebar at US$696/ton, the price for 10mm rebar is at US$700/ton, and the price for 8mm is now at US$704/ton ex-works. These prices all include 18% VAT.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=68037&division=A4
