SteelOrbis has been informed that today, October 22, an Iskenderun-based Turkish mill has cut its rebar price by TRY 250/mt ($7/mt) to TRY 26,250/mt ($639/mt) ex-works, for an extended delivery period, as compared to Thursday, October 17. The producer has kept its wire rod price stable at $630/mt ex-works, also for an extended delivery period. The main reason for the price cut for rebar is the sluggish demand and the ongoing currency fluctuations. The exchange rate is taken as $1 = TRY 34.25 as the mill itself has not indicated any specific exchange rate.