Erdemir raised discount rate in domestic cash sales
According to the announcement by Eregli Demir Celik Fabrikalari T.A.S. on May 06, 2003, effective from that date, discount rate for cash sales of products excluding tin/chrome
coated product group is raised up to 4%. For the aforementioned cash sales from April 11, 2003
Erdemir was applying 2% discount.
In case of deferred payment, monthly financing rate is determined as 2.133% for TL sales. It is reported that these rates are effective for period orders, overrolling inventory orders and free inventory orders. Added to that, in case of deferred payment, monthly financing rate is determined as 0% on US Dollars.