Turkish integrated steelmaker Erdemir has announced that, effective as of September 23, 2009, the financing charge rate for deferred payment for all its products has been readjusted to 1.5 percent for loan contracts on TRY basis and to 0.75 percent for loan contracts on USD basis, providing that the charge is paid within 31 days. Erdemir has also revised its monthly interest for delay to three percent.
As SteelOrbis previously reported, effective as of July 8, 2009, Erdemir had adjusted the financing charge rate for deferred payment for all products to two percent for loan contracts on TRY basis and to one percent for loan contracts on USD basis, providing that the charge was paid within 31 days.