Turkish mill Kardemir opens domestic billet and rebar sales with price cuts

As per its new price list dated June 19, Turkish steel producer Kardemir has opened its domestic billet and rebar sales. Accordingly, Kardemir opened its sales for S235JR grade (St37) billets at the level of $510/mt ex-works, excluding VAT, and also opened its sales for MT III-A grade billets at $515/mt ex-works, excluding VAT, with 50 percent on cash payment basis, with 50 percent on 45-day deferred payment basis, and with no interest accruing due to payment deferral. After opening its billet sales, Kardemir sold 62,500 mt within a short time and then closed its sales of billet.
 
Meanwhile, Kardemir has also opened its domestic sales for rebar at the level of TRY 1,094/mt ($582/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. So far 1,000 mt of rebar have been sold.
 
Compared to the price lists issued on June 6, the producer has decreased its billet prices by $10/mt, while its rebar prices have declined by TRY 9/mt ($5/mt).
 
$1 = TRY 1.88