Turkish buyers slow to book Kardemir’s billet despite sharp price fall

Thursday, 26 March 2020 15:01:05 (GMT+3)   |   Istanbul
       

Turkish integrated long steel producer Kardemir has opened 150 mm x 150 mm billet sales in the local market as of today, March 26. The supplier has cut its offers by TRY 95/mt ($36/mt) compared to two weeks ago to TRY 2,345/mt ($362/mt) ex-works for S235JR grade, while its III-A grade billet is available at TRY 2,375/mt ($367/mt) ex-works

However, buyers have been taking their time to purchase billet from Kardemir, mainly as demand for long steel, for rebar specifically, is almost at a standstill in Turkey. “Some will buy for sure, but only if they have to cover for their rebar orders,” a trader said.

Prices exclude 18 percent VAT.

$1 = TRY 6.47

 


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