Turkish mill Kardemir cuts rebar prices

As per its new price list dated November 1, 2011, Turkish steel producer Kardemir has opened its domestic rebar sales, decreasing its price levels.
 
Accordingly, Kardemir has opened its domestic sales for 12-22 mm diameter rebar at the level of TRY 1,140/mt ($637/mt) ex-works, excluding VAT, for 1,000 mt and above orders, with 25 percent on cash payment basis, with 25 percent each on 30-day, 60-day and 90-day deferred payment basis, and with no interest accruing due to payment deferral. According to the list issued on October 18, the producer has cut its rebar prices today by TRY 93/mt ($52/mt). The producer closed its sales on the same day, after selling approximately 27,500 mt.
 
US$1 = TRY 1.79