Earlier today, March 14, Turkey’s Kardemir increased its rebar price by TRY 540/mt ($25/mt) to TRY 14,325/mt ($755/mt) ex-works, excluding VAT, compared to its previous price list issued on Wednesday, February 22. It has since closed its rebar sales after a couple of hours. Kardemir’s rebar price was close to the lower end of the official rebar price range in the Marmara and Izmir regions, which varied at $750-770/mt ex-works yesterday. The mill succeeded in selling over 50,000 mt, possibly as high as 55,000 mt, SteelOrbis has heard.
The main reasons were the advantageous payment terms and some local traders restocking material as they believe the rebar price may hit the bottom soon.
$1 = TRY 18.98
.jpeg)