Earlier today, July 19, Turkey’s Kardemir issued its rebar price at TRY 15,650/mt ($582/mt), excluding VAT. It closed its rebar sales after a couple of hours. The mill’s rebar price indicated a TRY 200/mt ($28/mt) decrease, compared to Thursday, July 6. According to sources, the producer succeeded in selling around 40,000 mt of rebar. It may be considered a positive sign that $580/mt ex-works is workable under deferred payment conditions.
Kardemir’s rebar price was close to the lower end of the general official rebar price range in Turkey which varied at $590-600/mt ex-works yesterday.
The mill was selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 26.87.