Turkish integrated steel mill Kardemir has opened new domestic rebar sales in its local market as of today, April 2, cutting its offer prices sharply amid unfavourable business conditions.
Accordingly, Kardemir’s rebar price has decreased by TRY 28/mt ($16/mt) to TRY 2,515/mt ($377/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 rebar sales by Kardemir have been reported yet.
The producer’s US dollar-based price is slightly below the general offer range in Turkey which currently stands at $380-386/mt ex-works depending on the region. Local traders’ 12 mm rebar sales prices were at $374-381/mt ex-warehouse yesterday.
Prices exclude 18 percent VAT.
$1 = TRY 6.67