Turkish steel producer, Kardemir has reduced rebar prices in its latest sales round.
The company set prices for 12-32 mm rebar at TRY 26,815 (USD 595) per ton EXW, down from TRY 27,000 (USD 607) per ton in the previous round, when the exchange rate stood at around TRY 44.4 per USD.
Market sources said the company concluded sales shortly after opening, indicating sizable orders from the domestic market.
Founded in 1937, Kardemir has an annual production capacity of around 3.5 mln tons, producing billets, blooms, rebar, wire rod and profiles from its facilities in Karabuk.
1 USD / 45 TRY