Earlier today, October 12, Turkey’s Kardemir issued its rebar price at TRY 16,200/mt ($584/mt), excluding VAT. The mill’s rebar price indicated a TRY 250/mt increase, while remaining unchanged on US dollar basis, compared to Thursday, September 28. Sources report that the mill's rebar price is a little high under the current market conditions despite its advantageous payment terms. As a result, no rebar sale has been heard so far, while the company’s rebar sales are still open.
Kardemir’s rebar price is close to the higher end of the general official rebar price range in Turkey which has varied at $560-590/mt ex-works, including Icdas A.S.
The mill is selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 27.74.