Earlier today, January 10, Turkey’s Kardemir issued its rebar price at TRY 18,700/mt ($625/mt), excluding VAT. The mill’s rebar price has indicated a TRY 365/mt increase, while decreasing by $7/mt on US dollar basis, as compared to Wednesday, December 13. The mill closed its rebar sales after less than an hour. According to sources, the mill succeeded in selling around 26,500 mt, while some say the total volume was around 30,000 mt. The main reason for the sale of such a considerable tonnage were the advantageous payment terms.
Kardemir’s rebar price was close to the lower end of the official rebar price range in Marmara and Izmir regions, which has varied at $620-645/mt ex-works, including Icdas A.S.
The mill was selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 29.94.