Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, January 8, at TRY 24,100/mt ($560/mt), excluding VAT, down TRY 350/mt in the local currency and indicating an decrease of $16/mt on dollar basis, compared to November 26. It closed its sales within a couple of hours after selling around 20,500 mt thanks to its favorable payment terms and also taking into account the ongoing currency fluctuations.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 43.05.
According to sources, workable rebar prices in the Marmara and Izmir regions, including İçdaş's prices, are in the range of $555-575/m ex-works. Only a few mills are testing slightly above $575/mt ex-works in the Marmara region.
.jpeg)