Earlier today, November 29, Turkey’s Kardemir issued its rebar price at TRY 17,125/mt ($592/mt), excluding VAT. The mill’s rebar price has indicated a TRY 330/mt ($5/mt) increase, compared to Wednesday, November 15. The mill closed its rebar sales after a couple of hours. According to sources, the mill succeeded in selling around 26,000 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 general official rebar price range in Turkey which has varied at $580-605/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 28.93.