Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, November 6, at TRY 23,500/mt ($558/mt) excluding VAT, up TRY 135/mt in the local currency and indicating a drop of $2/mt on dollar basis, compared to October 9. It closed its sales in less than an hour after reportedly selling around 63,000 mt thanks to its favorable payment terms.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 42.11.
According to sources, official rebar prices in the Marmara Region and Izmir, including İçdaş's prices, are in the range of $545-570/m ex-works.
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