Local Turkish official wire rod prices follow diverse trends

Over the past week, Turkish mills have cut their official wire rod prices by $2-10/mt in the Iskenderun and Izmir regions, while prices remained unchanged in the rest of country amid the ongoing depreciation of the Turkish lira against the US dollar. Kardemir’s wire rod sales are still open, with its 6-27 mm wire rod price at $660/mt ex-works.

An Iskenderun-based mill has issued its official wire rod price today at TRY 15,300/mt ($646/mt), excluding VAT, stable in the local currency, while down by $2/mt on US dollar basis due to the depreciation of the Turkish lira. One Marmara-based mill has set its exchange rate at $1 = TRY 23,85 for today’s pricing. The exchange rate is taken as $1 = TRY 23.70 for today's pricing in the Iskenderun region as no other exchange rate has been specified locally.

Most suppliers are offering for late June-July delivery, while a limited tonnage is available from stocks.

The above prices, which are on actual weight basis, exclude 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.