Earlier today, May 17, Turkey’s Kardemir issued its rebar price at TRY 13,263/mt ($671/mt) ex-works, excluding VAT, compared to its previous price list issued on Thursday, March 30. It has since closed its rebar sales after a couple of hours. The mill's rebar price indicated a TRY 617/mt decrease ($53/mt) compared to March 30.
Kardemir’s rebar price was close to the lower end of the workable rebar price range in the Marmara and Izmir regions, which varies at TRY 15,400-15,940/mt ex-works ($652-685/mt) ex-works today. The mill succeeded in selling over 30,000 mt, SteelOrbis has heard by the time of publication.
The mill was selling its rebar at yesterday's Turkish Central Bank-based US dollar-Turkish lira exchange rate at 19.75. A few mills are calculating the exchange rate at $1 = TRY 20.24 today, SteelOrbis has heard. Kardemir’s price converts to $655/mt if the $1 = TRY 20.24 exchange rate is taken into account.
$1 = TRY 19.75