Kardemir finally closes its rebar sales

As of today, August 6, after selling 45,500 mt of rebar, Turkish steel producer Kardemir has closed its sales which it had opened on June 26 at the level of TRY 1,149/mt ($646/mt) + VAT ex-works.
 
Contrary to the usual situation, Kardemir's rebar sales had failed to attract sufficient demand within a short period of time, until today when another Turkish mill Icdas announced an increase of TRY 20/mt ($11/mt) in its rebar prices. After this announcement, Kardemir has managed to receive enough orders and has closed its rebar sales.
 
$1 = TRY 1.78