Today, June 29, Turkey’s Kardemir closed its new rebar sales earlier in the day, after selling around 39,000 mt of rebar.
The supplier had opened its rebar sales at TRY 10,255/mt ($617/mt) ex-works, excluding VAT yesterday. The exchange rate was at $1 = TRY 16.62. Sources report the mill succeeded in selling this volume due to advantageous payment terms and the unclear situation in the steel industry. When the previous rebar sale of 25,000 mt at the end of last week and the 19,000 mt of rebar sold in the Izmir region at the beginning of this week are taken into account, the total rebar tonnage traded in the local Turkish market adds up to 83,000 mt at $600-617/mt ex-works.