Turkey trades rebar and wire rod locally in Turkish lira and the lira/dollar exchange rate is highly volatile. As such, Metal Bulletin will price the steel products in their local currency to mitigate for this.
The new specifications are as follows:
Assessment: Turkey domestic rebar Turkish lira per tonne ex-works
Dimensions: Diameter 12-32mm
Quantity: Minimum 100 tonnes
Location: Ex-works
Timing: Up to 6 weeks
Unit: USD/tonne
Payment terms: LC, Bank transfer, cash upon order, deferred payment
Publication: Weekly. Thursday, 2-3pm London time
Assessment: Turkey domestic wire rod (mesh quality) Turkish lira per tonne ex-works
Dimensions: Standard diameter 5.5-32mm
Quantity: Standard 100 tonnes
Location: Ex-works
Timing: Prompt to 6 weeks
Unit: USD/tonne
Payment terms: LC, Bank transfer, cash upon order, deferred payment
Publication: Weekly. Thursday, 2-3pm London time
The consultation period for this price amendment will end one month from the date of this pricing notice, on August 20, 2018, with changes taking place, subject to market feedback, from August 23, 2018.
All historical data relating to these prices prior to the amendment will remain available in the pricing section of the Metal Bulletin website.
To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Cem Türken by email at: pricing@metalbulletin.com. Please add the subject heading 'FAO: Cem Türken, re: Turkish domestic rebar/wire rod prices'.
To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html
PRICING NOTICE: Proposal to change Turkey domestic rebar, wire rod price assessment currencies to Turkish lira
Metal Bulletin is proposing to change the specifications of its weekly price assessments for Turkish domestic rebar and wire rod from $ per tonne to Turkish lira per tonne.