Kardemir announced reduction in billet prices

KARDEMİR A.Ş. announced a USD 10 per ton reduction in its billet prices. According to the updated price list, the price for 150×150×6–12 m billets was set at USD 515/ton for S420–B420 grade and USD 505/ton for S235JR grade.

While the market had been expecting a price increase with the approach of year-end, the announced USD 10 reduction came as a surprise across the sector.

Meanwhile, it was reported that total sales of 55,000 tons were concluded at these price levels. KARDEMİR’s move is considered to be aimed at stimulating demand toward the end of the year.