Today, August 11, Turkey’s Kardemir opened its long-awaited billet sales for local buyers, announcing a price far below other sellers’ expectations, while the price level was found by buyers to be sufficiently attractive.
Accordingly, Kardemir set its billet offer prices at TRY 3,050/mt ($416/mt) ex-works for S235JR grade, while its S420-B420 (formerly III-A) grade billet was available at TRY 3,085/mt ($420/mt) ex-works.
Initially, the market was expecting Kardemir to announce $425/mt ex-works for the base grade, taking into account high scrap and iron ore prices and positive expectations for rebar demand. Buyers, on the other hand, are happy with the offer and have booked 82,500 mt within a short period of time.
Prices exclude 18 percent VAT.
$1 = TRY 7.34
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