Turkish integrated steel mill Kardemir has closed its domestic rebar sales prices today, February 19, having sold some significant volumes since yesterday. SteelOrbis has learned that the producer has sold around 48,000 mt of rebar at TRY 2,677/mt ex-works, which is equivalent to $442/mt ex-works according to the current exchange rate.
As a result, local buyers in the Black Sea region have accepted a price increase of almost $20/mt over the past two weeks with the solid uptrend in the import scrap segment being the key reason. In addition, there is some cautious optimism regarding a possible demand improvement in the spring period. The option of deferred payment has also supported the mill’s sales, SteelOrbis understands.
Prices exclude 18 percent VAT.
$1 = TRY 6.06
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