Turkey's Kardemir opened its rebar sales at TRY 21,460/mt ($545/mt), excluding VAT, earlier today, June 18, and closed its rebar sales in less than one hour. Sources report that the mill succeeded in selling around 40,000 mt due to its advantageous payment terms. The final tonnage is expected to gain clarity shortly. The price indicated a decrease of TRY 125/mt, and was also down by $9/mt on a US dollar basis, compared to its previous price list dated Wednesday, May 28.
Kardemir is selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 39.37.
Sources report that the workable rebar prices in Turkey’s Marmara and Izmir regions, including Icdas A.S.’s prices, currently vary between $535-560/mt ex-works.
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