Turkey’s Kardemir kept its rebar price stable at TRY 19,550/mt ($594/mt), excluding VAT, when opening its rebar sales earlier today, July 24. Its new rebar price remained stable in the local currency, with a decrease of $2/mt on US dollar basis as compared to Wednesday, July 10, against the backdrop of the ongoing currency fluctuations. The producer' rebar sales are still open. Approximately 13,000-14,000 mt of rebar have been traded given Kardemir’s advantageous payment terms, SteelOrbis has heard.
According to sources, the official rebar prices in the Marmara and Izmir regions currently vary at $585-605/mt ex-works.
Kardemir has been selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 32.94.