Integrated Turkish mill Kardemir has announced fresh square billet sales today, October 10, in addition to the previously opened price for rebar. As a result, the mill has been able to achieve decent sales volumes in both segments. Some market sources believe the sales are a result of the Turkish Central Bank’s announcement of lower interest rates, which will affect the currency situation.
According to sources, Kardemir has traded up to 30,000 mt of billet at the earlier announced $605-610/mt ex-works price depending on the steel grade. However, sales of only 8,500 mt have been confirmed by the time of publication. In the rebar segment, the mill has traded almost 30,000 mt at a price of around $675/mt ex-works.
In the import billet segment, buyers’ bids have dropped to $550/mt CFR at the highest and to $530/mt CFR at the lowest. Some sources believe some business could have done in between these levels. However, offers are at $570-585/mt CFR from most sellers, while $560-565/mt CFR levels have also been reported from a large Russian mill.
