Today, April 7, Turkish integrated mill Kardemir has opened its domestic longs product sales after a long break and, moreover, the announced levels were set at lower levels than market players had initially expected. The company’s billet sales have remained closed.
Kardemir opened its rebar sales at TRY 4,990/mt ($612/mt) ex-works, up by TRY 308/mt in the local currency and down $28/mt on US dollar basis compared to its previous list price dated Wednesday, March 3. As usual, the offer was valid for 500 mt and above orders, for cash payment, with a 25 percent initial cash payment and payment deferral for up to 90 days, with an additional 1.5 percent to be paid for each month of deferred payment.
The producer announced its offers below the lower end of the general market price range which stands at $620-630/mt ex-works in the Marmara and Izmir regions as of today. Kardemir succeeded in selling over 42,000 mt of rebar and closed its rebar sales at noon.
Kardemir’s new prices for 5.5 mm SAE 1008-1010 grade wire rod were at TRY 5,675/mt ($695/mt) ex-works, while its 6-56 mm wire rod of the same steel grade was being offered at TRY 5,590/mt ($685/mt) ex-works, up by TRY 365/mt in the local currency and down ($31/mt) compared to its previous price list dated Wednesday, March 3. According to sources, the producer succeeded in selling around 33,500 mt.
The general domestic wire rod price range in Turkey is standing at $700-725/mt ex-works. Kardemir’s wire rod price was below the lower end of the general domestic price range, with advantageous payment terms.
Rebar prices include 18 percent VAT, while wire rod prices do not.
$1 = TRY 8.16