Turkey’s Kardemir cut its rebar price to TRY 19,250/mt ($592/mt), excluding VAT, earlier today, June 6. Its new rebar price indicates an decrease of TRY 205/mt ($12/mt) as compared to Wednesday, May 22, amid the ongoing currency fluctuations and sluggish demand. Approximately 26,500 mt of rebar have been traded given the advantageous payment terms, SteelOrbis has heard.
According to sources, the official rebar prices in the Marmara and Izmir regions vary at $590-610/mt ex-works, excepting Icdas A.S., following the recent upward trend in the import scrap segment.
Kardemir sold its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 32.51.
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