Erdemir revised discount and financing rates for domestic sales

Erdemir revised discount and financing rates for domestic sales

According to the announcement made by Turkish integrated flat steel producer Eregli Demir Celik Fabrikalari T.A.S., the 4% discount rate applied to tinplate/chrome coated, galvanized and cold rolled products for domestic cash sales has been lowered to 0% to be valid from June 26, 2003. Erdemir had applied 4% discount for cash sales since May 6, 2003. Together with these recent changes, in case of deferred payment, monthly financing rate is raised to 3% from 2.13% for sales on TL basis. These rates are effective both for period orders, overrolling inventory orders and free inventory orders. Added to that for sales on US Dollars, in case of deferred payment, monthly financing rate for cold rolled and galvanized product is now 0% up to 61 days, whereas for tinplate/chrome coated products financing rate is determined as 1% up to 61 days and total financing rate for 91 days is 2%. Monthly financing rate for other product groups is raised up to 1%. In order to see Erdemir's June 26, 2003 dated prices please click here: Erdemir increased hot rolled steel prices in Turkish local market In order to read the previous article about discount and financing rates please click here: Erdemir raised discount rate in domestic cash sales