Turkish steel producer Kardemir has increased its rebar prices in the latest sales round, according to the company’s updated price list. Market insiders noted that the company sold significant volumes and closed sales on the same day.
Kardemir offered rebar in sizes 12-32 mm at TRY 21,500 (USD 628) per ton, up from TRY 20,460 (USD 600) per ton a few weeks ago, based on an exchange rate of TRY 34.1 per USD.
The price hike is attributed to rising scrap import prices and strong domestic demand, driven primarily by shortages of certain sizes.
Founded in 1937, Kardemir is a major steel player in Turkey with a production capacity of 3.5 mln tons per year. The company’s product portfolio includes blooms, billets, rebars, profiles, and various other steel products, with manufacturing facilities strategically located in Karabuk.
1 USD / 34.2 TRY
