Turkish steel producer, Kardemir has decreased billet and wire rod prices, according to its latest price list.
Kardemir’s S235JR grade 150 mm billet is now offered at USD 575 per ton EXW, representing a decrease from the previous rate of USD 600 per ton. Similarly, the B420 grade 150 mm billet is being offered at USD 580 per ton EXW, reflecting a reduction of USD 25 per ton compared to the prices announced on June 14, 2023.
Furthermore, the company has revised the price of the 5.5 mm SAE 1006 grade wire rod to USD 670 per ton EXW, down from the previously announced price of USD 685 per ton. Similarly, for SAE 1008-1010 grades, the prices have been lowered by USD 15 per ton to USD 660 per ton EXW.
The recent price cut is attributable to the weak demand and economic uncertainty, particularly ahead of the upcoming central bank meeting on Thursday. Media reports suggest that the Turkish central bank is likely to raise its policy rate significantly to tackle soaring inflation.
