Turkey’s integrated steel mill Kardemir has revised its domestic rebar sales prices downwards on February 4. The producer’s offers have decreased over the past two weeks as a result of lower domestic demand for rebar and the general downtrend in the steel scrap sector.
Accordingly, Kardemir’s rebar price has decreased by TRY 55/mt ($14/mt) to TRY 2,530/mt ($423/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. Kardemir has sold approximately 5,500 mt at this price today
The producer’s US dollar-based price was settled in line with the general range available in Turkey. Other producers are mainly trying to sell at $420-425/mt ex-works, while some business has been done by local stockists at as low as $415/mt ex-warehouse since last week.
Prices exclude 18 percent VAT.
$1 = TRY 5.98
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