Turkish integrated steel mill Kardemir has closed its domestic rebar sales in the afternoon today, January 11. The producer has achieved sales of approximately 34,250 mt at TRY 4,790/mt ($640/mt) ex-works, with around 29,750/mt of rebar sold today and the remaining tonnage sold previously. The offer was valid for 500 mt and above orders, on cash payment basis or for 25 percent cash payment + 1.5 percent for payment deferral for up to 90 days.
Kardemir’s rebar price was close to the lower end of Turkish mills’ local rebar prices available in the range of $645-670/mt ex-works. Some traders are restocking given the advantageous payment terms, while currency fluctuations have contributed to the positive sentiment in the import scrap market.
Prices exclude 18 percent VAT.
$1 = TRY 7.45
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