Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, March 25, at TRY 25,915/mt ($584/mt), excluding VAT, up TRY 1,265/mt ($25/mt) as compared to March 11, against the backdrop of higher production costs. It closed its sales within two hours after selling around 30,000 mt with its favorable payment terms. The final tonnage has not been confirmed by the time of publication.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 44.34.
The overall workable rebar prices in Turkey have settled at $585-600/mt ex-works for cash payment, so the mill's rebar price was close to the lower end of the domestic rebar price range.