Posted on 09 Sep 2021
Kardemir published a new price list and opened sales for billet in its domestic market on 8 September, Kallanish notes.
150mm square, 6-12m-long billet prices were decreased by $15/tonne from the previous price list issued on 15 June to $623-628/t.
Prices quoted are ex-works and exclude 18% VAT.
Although buyers initially wanted to gauge the market following the sharp movements in exchange rates and were therefore reluctant to buy Kardemir billet in the morning, Kardemir managed to sell a significant amount by day-end.
The lira weakened sharply against the dollar on Wednesday, to 8.48, following the statements made by Turkey's Central Bank on the inflation rate, which has exceeded interest rates. But by the end of business on Wednesday, it had firmed to 8.457 per dollar.
Another mill in southern Turkey that sold billet at $620/t last week has increased its price this week. After selling at $623-625/t on Tuesday, it increased its offer price to $630/t ex-works on Wednesday.
Source:Kallanish
