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After a consultation period, Metal Bulletin has changed the currency for Turkish domestic rebar and Turkish domestic wire rod assessments.
Metal Bulletin has changed the specifications of its weekly price assessments for Turkish domestic rebar and wire rod from $ per tonne to Turkish lira per tonne.
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
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 www.metalbulletin.com/prices/pricing-methodology