Turkey's Kardemir opened its rebar sales at TRY 21,585/mt ($554/mt) excluding VAT at noon, yesterday, May 28, and closed its sales by late afternoon. According to sources, the mill is reported to have succeeded in selling around 11,500 mt due to its advantageous payment terms. "The general sentiment on the demand side is still negative," one source commented.
Kardemir was selling its rebar at the Turkish Central Bank-based exchange rate dated Tuesday, May 27, at $1 = TRY 38.97.