Turkey’s Kardemir raised its rebar price by TRY 500/mt to TRY 22,000/mt ($642/mt), excluding VAT, earlier today, October 9, and closed its rebar sales after a couple of hours. This price indicates an increase of $13/mt on US dollar basis as compared to Wednesday, October 2, against the backdrop of the ongoing currency fluctuations and the positive sentiment in the import scrap market. 20,000 mt of rebar is confirmed to have been sold by the time of publication.
One Marmara-based mill issued its rebar price at $655/mt ex-works earlier today.
Kardemir sold its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 34.27.