Turkish long steelmaker Icdas has hiked prices of rebar and wire rod by TRY 30/ton, valid from Monday. Due to the weakening of the currency lira against US dollar, the mill had no choice but to adjust up the price to balance off the operation. In the recent weeks, currency depreciation of lira ranging up to US$18/ton is more than the price they adjusted up as TRY30/ton which is around US$16/ton. Fellow steelmaker Kardemir also adjusted its domestic bar prices from June 19th.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65043&division=A4
