SteelOrbis has been informed by market sources that local producers' price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are as follows:
Region | Price ($/mt) | Price change ($/mt) | |
10.01.2016 | |||
Marmara | 460-470 | 0 | |
Thrace | 450-460 | 0 | |
Izmir | 455-465 | 0 | |
Iskenderun | 455-460 | 0 | |
The above prices, which are on actual weight basis, exclude VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
Last week, demand in the local Turkish wire rod market had declined significantly due to the sharp depreciation of the Turkish lira against the US dollar, with buyers in the market preferring to postpone their wire rod purchases.
As of the beginning of the current week, the Turkish lira has gained strength slightly against the US dollar, causing demand in the local Turkish wire rod market to improve compared to last week, though demand is still at low levels. Despite the weakness of demand, it is observed that Turkish steel producers' wire rod offers to their domestic market have remained stable during the past week.
Recent economic and political uncertainties in Turkey together with harsh weather conditions have had a negative effect on the local Turkish wire rod market. As a result, Turkish wire rod producers have focused on export sales instead of on their domestic market.