Turkey's Icdas has raised its domestic rebar and wire rod prices each by TRY 60/tonne ($17/t) on-week as the surge in scrap import prices continues, Kallanish notes.

The scrap-based long steelmaker's 12-32mm, 10mm, and 8mm diameter rebar is currently offered at TRY 2,230/t ($632/t), TRY 2,240/t and TRY 2,250/t respectively from 14 August. Last week Icdas raised its rebar prices by a total of TRY 70/t each.

Icdas' 5.5-8.5mm dia wire rod (SAE 1006) is now quoted at TRY 2,370-2,400/t. All of the steelmaker's prices are ex-works and include 18% VAT.

Local integrated peer Kardemir's domestic rebar and billet sales are closed since 11 August, a day after the steelmaker re-opened its sales at higher prices. Wire rod sales are closed as well since 14 August.

Turkish scrap import prices jumped by over $20/t on-week last week, surpassing $350/t cfr Turkey for HMS 1&2 80:20. Scrap is seen having room to rise still further as it is undervalued against billet and rebar prices (see Kallanish 14 August).