Turkey’s Kardemir decreased its rebar price by TRY 545/mt to TRY 21,455/mt ($627/mt), excluding VAT, earlier today, October 23. This price indicates a decrease of $15/mt on US dollar basis as compared to Wednesday, October 9, amid the ongoing currency fluctuations and the negative sentiment in the import scrap market. 9,500 mt of rebar are confirmed to have been sold by the time of publication, while the steelmaker’s rebar sales are still open.
According to sources, the workable rebar price range is around $620-635/mt ex-works today depending on the region.
Kardemir sold its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 34.24.