Turkish integrated steel mill Kardemir has opened new rebar sales in its local market today, March 11, after a long break. The producer has decreased its price compared to three weeks ago amid sluggish demand and the unstable local currency.
Kardemir’s rebar price has decreased by TRY 37/mt ($11/mt) to TRY 2,640/mt ($431/mt) ex-works. The offer is valid for 500 mt and above orders, with 25 percent on cash payment basis, with 25 percent each on 30-day, 60-day and 90-day deferred payment basis, and with no interest accruing due to payment deferral. No sales by Kardemir have been reported yet.
The producer’s US dollar-based price has been settled at closer to the lower end of the general offer range in Turkey, which is currently standing at $430-443/mt ex-works depending on the region. Local traders’ 12 mm rebar sales prices were at $420-430/mt ex-works yesterday.
Prices exclude 18 percent VAT.
$1 = TRY 6.13
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