Last week mesh quality wire rod offers in the Turkish domestic market were standing at TRY 1,220-1,290/mt ($656-693/mt) ex-works, excluding VAT, while this week prices have moved to the range of TRY 1,212-1,302/mt ($652-700/mt) ex-works, excluding VAT. However, just as in the previous weeks, mills may reduce their offers for large volume orders.
The Turkish wire rod market has remained quiet this week as well, amid the ongoing low demand in the overall iron and steel market. Market players continue to conclude deals in line with their needs and avoid making large volume purchases. Additionally, the Turkish lira has weakened against the US dollar lately and market players find it difficult to predict the exchange rate trend in the coming period. As a result, they prefer to keep a close eye on the steel market and refrain from taking big risks.
On the other hand, Turkish mills' wire rod offers to the export markets have remained unchanged as compared to last week and are still ranging at $660-670/mt FOB for June shipments. However, ex-Turkey wire rod offers have failed to attract attention in the export markets, and concluded deals have been for small tonnages.
SteelOrbis has learned that current offers for mesh grade 6.5-8 mm wire rod in the local Turkish steel market are as follows:
Region | Price |
Marmara | TRY 1,460-1,480/mt ($665-674/mt) ex-works |
Izmir | TRY 1,430-1,440/mt ($652-656/mt) ex-works |
Iskenderun | TRY 1,514-1,536/mt ($690-700/mt) ex-works |
Wire rod prices for Thrace stand at TRY 1,450/mt ($661/mt) ex-works in Biga, Çanakkale.
The above prices are on actual weight basis. The dollar prices exclude VAT, while the TRY prices include VAT.
It is heard that lower prices are also available in the market for real buyers.
$1 = TRY 1.86