Turkey-based Kardemir revises its rebar sales prices upward

As per its new price list dated May 22, 2013, Turkey-based steel producer Kardemir has opened its domestic rebar sales, increasing its prices, mostly due to the depreciation of the Turkish lira against the US dollar, with the exchange rate climbing to 1.84 from 1.79 at the beginning of May.
 
Accordingly, Kardemir opened its sales for rebar at the level of TRY 1,098/mt ($597/mt) ex-works, excluding VAT, for 1,000 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.
 
As compared to the price list issued on April 24, the producer has increased its rebar prices by TRY 10/mt. However, due to currency fluctuations  Kardemir's rebar prices on dollar basis have indicated a decrease of $8/mt.