As of today, August 6, after selling 45,500 mt of rebar, Turkish steel producer Kardemir has closed its sales which it had opened on June 26 at the level of TRY 1,149/mt ($646/mt) + VAT ex-works.
Contrary to the usual situation, Kardemir's rebar sales had failed to attract sufficient demand within a short period of time, until today when another Turkish mill Icdas announced an increase of TRY 20/mt ($11/mt) in its rebar prices. After this announcement, Kardemir has managed to receive enough orders and has closed its rebar sales.
$1 = TRY 1.78