Earlier today, September 28, Turkey’s Kardemir issued its rebar price at TRY 15,950/mt ($584/mt), excluding VAT and then closed its rebar sales after a couple of hours. The mill’s rebar price indicated a TRY 285/mt ($2/mt) increase, compared to Wednesday, September 13. According to sources, the producer succeeded in selling around 20,000-25,000 mt of rebar, mainly due to its advantageous deferred payment terms and the ongoing currency fluctuations.
Kardemir’s rebar price was close to the lower end of the general official rebar price range in Turkey which has varied at $580-590/mt ex-works.
The mill was selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 27.31.