Earlier today, July 6, Turkey’s Kardemir issued its rebar price at TRY 15,850/mt ($608/mt), excluding VAT. It closed its rebar sales after an hour. The mill’s rebar price indicated a TRY 850/mt increase, while falling by $27/mt on US dollar basis, compared to Thursday, June 15. According to sources, Kardemir received demand for a decent volume of rebar, though some people say the producer limited its sales to around 30,000 mt of rebar. The main reasons for the quantity of sales were the mill’s aggressive pricing policy and its advantageous payment terms. “Kardemir's rebar price fell below $610/mt ex-works, which is a workable rebar price under the current market conditions,” one source mentioned.
Kardemir’s rebar price was close to the lower end of the general workable rebar price range in Turkey which varied at $600-635/mt ex-works yesterday.
The mill was selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 26.09.