Earlier today, November 1, Turkey’s Kardemir issued its rebar price at TRY 15,825/mt ($559/mt), excluding VAT. The mill’s rebar price has indicated a TRY 160/mt ($2/mt) increase, compared to Wednesday, October 25. The mill closed its rebar sales after less than an hour. According to sources, the mill succeeded in selling around 35,000 mt, while the final tonnage is expected to be clarified soon. The main reasons for the sale of such a tonnage were the advantageous payment terms and the slight price increase in the last import scrap deal in Turkey.
Kardemir’s rebar price is close to the lower end of the general official rebar price range in Turkey which has varied at $555-570/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 28.29.
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