Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, February 18, at TRY 23,835/mt ($545/mt), excluding VAT, down TRY 80/mt in the local currency and indicating a decrease of $6/mt on dollar basis as compared to January 29, against the backdrop of ongoing currency fluctuations. It closed its sales within a couple of hours after selling around 30,000 mt with its favorable payment terms.
Kardemir sold its rebar at the exchange rate announced by Turkey’s Central Bank yesterday at $1 = TRY 43.73.
The overall workable rebar prices in Turkey have settled at $545-560/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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