Turkey’s integrated Kardemir has opened sales of 150 mm x 150 mm billet in its local market, setting its price at a somewhat lower level than expected. The supplier has cut its prices by TRY 80/mt ($18/mt) compared to two weeks to TRY 2,380/mt ($398/mt) ex-works for S235JR grade, while its III-A grade billet is available at TRY 2,410/mt ($403/mt) ex-works. So far, the producer has sold 25,500 mt of billet, while its sales are still open.
The low billet offers by Kardemir have affected the general sentiment in the market. The domestic level for billet across Turkey is expected to settle at $395-405/mt ex-works, though buyers’ price idea is hardly above $390-395/mt ex-works. “With rebar at $420/mt ex-works, there is no chance to sell billet at $400/mt ex-works and above, maybe to profile producers only,” a source told SteelOrbis.
Prices exclude 18 percent VAT.
$1 = TRY 5.98
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