Kardemir increased rebar and wire rod prices

In Türkiye, Kardemir A.S. raised its rebar prices by $6/ton to $592/20,550tl/ton and wire rod prices by $5/ton to $610/ton. The factory sold around 31,000 tons of rebar and closed the sales at the announced prices.

While Kardemir sales brought some movement to the market, the general market stagnation continues to dominate. The decrease in demand and the increase in the exchange rate maintain uncertainty in market expectations.

Prices at iron and steel mills continued in the range of $580-605/ton while spot market prices remained steady today. However, in the absence of demand, prices are expected to fall in the short term.

November 29, 2023 www.steelradar.com evaluated spot rebar prices by region as follows;

Istanbul rebar prices 20,600 TL (0.00) / 712.44 USD (0.00)

Izmir rebar prices 20.100 TL (0.00) / 695.15 USD (0.00)

Karabuk rebar prices 20.400 TL (0.00) / 705.52 USD (0.00)

Payas rebar prices 20.700 (0.00) / 715.90 USD (0.00)

1 USD = 28,91 TL