Today, July 29, Turkey’s Kardemir has opened its domestic billet sales and manage to close them within a couple of hours, after selling around 80,500 mt, according to sources.
Kardemir had set its billet offer prices at $677/mt ex-works for S235JR grade, while its S420-B420 grade billet was available at $682/mt ex-works. The producer billet prices indicate $7-8/mt decrease compared to its previous price list dated Tuesday, June 15.
Kardemir has recently announced that it has decided to sell its products on US dollar basis only excluding VAT. According to the company’s statement, if the payment will be made in cash, there will be a 0.6 percent discount. With a 25 percent initial cash payment, the remaining will be paid in three equal installations with payment deferrals up to 30 days, 60 days and 90 days.
Prices exclude 18 percent VAT.