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Major Turkish long steel producer ICDAS has reduced its long steel prices by USD 10 per ton compared with levels announced in mid-September.
The company is now offering rebar at USD 630 per ton EXW Biga and wire rod at USD 640 per ton EXW Biga.
The reduction comes against a backdrop of weaker domestic demand and subdued market activity. Some market sources indicate that a tight liquidity situation has also weighed on the market.
ICDAS operates three steel mills and four rolling mills in Turkey, with annual crude steel capacity of around 5.5 mln tons and long steel production capacity of about 4 mln tons.