Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, November 26, at TRY 24,450/mt ($576/mt), excluding VAT, up TRY 950/mt in the local currency and indicating an increase of $18/mt on dollar basis, compared to November 6. It closed its sales within a couple of hours after selling around 36,000 mt thanks to its favorable payment terms and also taking into account ongoing currency fluctuations.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 42.44.
According to sources, workable rebar prices in the Marmara and Izmir regions, including İçdaş's prices, are in the range of $560-585/m ex-works. Even slightly higher levels have been tested today, SteelOrbis has heard.
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