Turkish steelmaker Kardemir opened its domestic rebar sales earlier today, July 22, at TRY 27,295/mt ($578/mt), excluding VAT, up by TRY 795/mt ($12/mt) as compared to July 7, amid ongoing currency fluctuations and costlier energy expectations. It closed its sales within less than an hour after selling around 32,000 mt with its favorable payment terms.
Kardemir sold its rebar at the exchange rate announced by Turkey's Central Bank yesterday at $1 = TRY 47.20.
The overall workable rebar prices in Turkey have settled at $575-585/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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