Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, January 29, at TRY 23,915/mt ($551/mt), excluding VAT, down TRY 185/mt in the local currency and indicating an decrease of $9/mt on dollar basis, compared to January 8. It closed its sales within a couple of hours after selling around 28,000 mt amid the ongoing currency fluctuations and favorable payment terms.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 43.41.
The overall workable rebar prices in Turkey have hit $545-560/mt ex-works, versus $545-575/mt ex-works for large tonnages, while in the Marmara region smaller lots can still be booked at $565-570/mt ex-works.
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