Turkey’s Kardemir cut its rebar price by TRY 50/mt to TRY 19,500/mt ($588/mt), excluding VAT. This price indicates a decrease of $6/mt on US dollar basis as compared to Wednesday, July 24, against the backdrop of the ongoing currency fluctuations. The producer' rebar sales are still open.
The mill's rebar price is close to the lower end of the workable rebar prices in the Marmara and Izmir regions which vary at $585-600/mt ex-works.
Kardemir has been selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 33.14.