Turkey’s Kardemir, opened its rebar sales at TRY 19,850/mt ($570/mt), excluding VAT, earlier today, December 11, and closed them after less than one hour. The price indicates a decrease of TRY 565/mt ($21/mt) compared to Wednesday, November 20. Sources report that the mill succeeded in selling around 45,000 mt of rebar due to its advantageous payment terms.
Most mills in the Marmara and Izmir regions are officially offering rebar at $565-580/mt ex-works.
Kardemir is selling its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 34.84.