Turkish integrated steel mill Kardemir has opened its new domestic rebar sales in the local market as of today, March 26. As the market remains negative, the price has dropped significantly, in line with the general offer levels of other mills and traders
Accordingly, Kardemir has reduced its rebar price by TRY 97/mt ($38/mt) to TRY 2,543/mt ($393/mt) ex-works. The offer is valid for 500 mt and above orders, with 25 percent on cash payment basis, with 25 percent each on 30-day, 60-day and 90-day deferred payment basis, and with no interest accruing due to payment deferral. No sales by Kardemir have been reported yet.
The producer’s US dollar-based price is at the lower end of the general offer range in Turkey, which is currently standing at $395-413/mt ex-works depending on the region. Local traders’ 12 mm rebar sales prices were at $389-397/mt ex-warehouse yesterday, March 25.
Prices exclude 18 percent VAT.
$1 = TRY 6.47