Kardemir has re-opened its rebar and billet sales for the domestic market at higher prices after the Turkish lira weakened against the dollar, Kallanish notes.

Kardemir's 12-32mm and 12-18mm diameter rebar prices are at TRY 1,924/tonne ($551/t) and TRY 1,941/t, effective 19 September, each up by TRY 21/t over the previous, 15-August price list. 

Billet prices have increased to TRY 1,782-1,887/t from TRY 1,677-1,768/t asked for last month. The price of bloom has gone up by TRY 95/t to TRY 2,125/t.

Domestic rebar and billet sales had been closed since 21 and 11 August, respectively.

Wire rod prices remain unchanged at TRY 1,980-2,040/t. Prices of pig iron are also stable at TRY 1,320-1,530/t, depending on grade. Profiles, equal angles and GI sections prices have each risen by TRY 40/t to TRY 1,950-2,205/t, TRY 2,075-2,385/t, and TRY 2,130-2,155/t respectively.

All of Kardemir's prices are ex-works and exclude VAT.

As reported, scrap-based peer Icdas also raised its domestic rebar and wire rod prices last week, despite the drop in scrap import prices, as the lira started weakening.

The Turkish lira has depreciated to 3.5 against the dollar as of 18 September from 3.4 liras per dollar earlier this week. According to analysts, the reason is the strengthening of the dollar ahead of the US Federal Reserve meeting on 20 September.