Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, March 11, at TRY 24,650/mt ($559/mt), excluding VAT, up TRY 815/mt ($14/mt) as compared to February 18, amid higher production costs. It closed its sales within an hour after selling around 41,000 mt with its favorable payment terms.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 44,06.
The overall workable rebar prices in Turkey have settled at $555-575/mt ex-works for cash payment, so the mill's rebar price was close to the lower end of the domestic rebar price range.
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