Turkey’s Kardemir, having issued its rebar price at TRY 20,920/mt ($609/mt), excluding VAT, earlier today, November 6, closed its rebar sales after a couple of hours. The price indicates a decrease of TRY 535/mt ($17/mt) compared to Wednesday, October 23. Sources report that the mill succeeded in selling around 40,000 mt of rebar due to its advantageous payment terms.
Most mills in the Marmara and Izmir regions are offering rebar at $610-615/mt ex-works.
Kardemir sold its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 34.34.