Turkey’s Kardemir has decreased its rebar price by TRY 50/mt to TRY 19,450/mt ($580/mt), excluding VAT. This price indicates a decrease of $8/mt on US dollar basis as compared to Thursday, August 1, amid the ongoing currency fluctuations. According to sources, 6,500 mt of rebar has been traded so far. Some local buyers are postponing their purchases as they believe rebar prices may decrease further in the short term. The producer's rebar sales are still open.
The mill’s rebar price is close to the lower end of the workable rebar price range in the Marmara and Izmir regions which varies at $580-595/mt ex-works.
Kardemir has been selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 33.54.