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Major Turkish long steel producer ICDAS has increased its long steel prices by USD 5 per ton this week, supported by higher scrap costs.
ICDAS is offering rebar at USD 635 per ton EXW Biga, up USD 5 per ton from last week. Wire rod prices have also increased by USD 5 per ton to USD 645 per ton EXW Biga.
MESTEEL assessed HMS 1&2 (80:20) at USD 390 per ton CFR Turkey last week, up USD 10 per ton week-on-week.
Market insiders said domestic demand remains active, while limited rebar availability and rising production costs are supporting higher prices.
ICDAS is one of Turkey’s leading integrated steel producers, operating three steel mills and four rolling mills with annual crude steel capacity of around 5.5 mln tons and long steel production capacity of about 4 mln tons. The company produces rebar and wire rod and exports to more than 130 countries, while also operating businesses in energy generation, shipbuilding and logistics.