Posted on 21 Mar 2024
Kardemir published a new price list and opened domestic sales for rebar and wire rod on Wednesday, Kallanish notes.
Rebar in diameters of 12-32mm and 36-40mm were each increased by TRY 490/tonne ($15/t) to TRY 19,700/t and TRY 19,850/t, respectively, versus Kardemir’s previous list on 29 February.
Prices for 5.5-56mm diameter wire rod have however been decreased by $15/t to $605-645/t, from Kardemir's previous list on 29 February.
Prices quoted are ex-works and exclude 18% VAT.
Kardemir quickly sold 30,000 tonnes of rebar and closed sales within an hour while keeping wire rod sales open. A deferred payment option, acceleration of the lira weakening per dollar, and even weaker lira expectations after the upcoming municipal elections triggered buyers to purchase Kardemir's rebar despite sluggish market conditions in Turkey.
The lira, which is continuing to depreciate against other currencies, stood at around TRY 32.29/$1 on Wednesday morning.
Source:Kallanish
