Turkey’s Kardemir opened its rebar sales at TRY 19,700/mt ($608/mt), excluding VAT, earlier today, March 20, closing them soon afterwards. The rebar price indicated an increase of TRY 490/mt, while falling by $7/mt on US dollar basis amid the ongoing currency fluctuations, compared to Thursday, February 29. According to sources, the mill succeeded in selling around 25,000-30,000 mt of rebar, supported by its advantageous payment terms.
Most mills in the Marmara and Izmir regions are offering official rebar prices at $600-620/mt ex-works, including Icdas A.S.
Kardemir sold its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 32.39.
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