Turkish steel producer Kardemir has increased domestic rebar prices in its latest sales round announced on May 21.
The company set prices for 12-32 mm rebar at TRY 26,960 (USD 590) per ton EXW, compared with TRY 26,815 per ton in the previous sales round. However, the price was lower in USD terms due to volatility in the Turkish currency exchange rate, which stood at around TRY 45 per USD during the previous round.
Market sources said Kardemir concluded sales shortly after opening, selling moderate volumes in 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 / 45.7 TRY