Today, June 8, Turkish integrated mill Kardemir opened its rebar sales and then closed them after a couple of hours. Market sources consider the announced price level as being somewhat aggressive when compared to the target prices seen in the market of the other Turkish mills.
Kardemir opened its rebar sales at TRY 5,915/mt ($685/mt) ex-works. As usual, the offer was valid for 500 mt and above orders, for cash payment, with a 25 percent initial cash payment and payment deferral for up to 90 days, with an additional 1.5 percent to be paid for each month of deferred payment.
The producer’s rebar price was at the lower end of the general range in Turkey, while most mills in the Izmir and Marmara regions are currently offering official rebar prices at $700/mt ex-works. According to sources, one Marmara-based mill has started testing $710/mt ex-works, after selling 1,000 mt at $700/mt ex-works this morning. In addition, another mill in this region has stopped quoting. Overall, Kardemir succeeded in selling around 50,000 mt of rebar with its advantageous payment terms and aggressive pricing.
Rebar prices exclude 18 percent VAT
$1 = TRY 8.63