SteelOrbis has been informed by market sources that price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are as follows:
Region |
Price ($/mt) |
Marmara |
462 - 473 |
Thrace |
459 - 470 |
Izmir |
453 - 463 |
Iskenderun |
460 - 475 |
The above prices, which are on actual weight basis, do not include VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
According to market sources, wire rod prices in the local Turkish market are in the range of $453-475/mt ex-works, excluding VAT, indicating a decrease of $12-16/mt over the past week.
A steel producer in Marmara region in Turkey has suspended its wire rod production due to a malfunction at its mill and plans to restart production next week. As a result of this situation, wire rod producers from other regions of Turkey have stated to give offers to the Marmara region, where supply is on the short side, with some of them giving aggressive prices as they are under pressure to conclude sales. However, demand for wire rod in the Turkish market has weakened due to the slackening of construction activities amid the cold winter weather conditions in recent days. Also, the gradual softening of imported scrap prices in Turkey has raised expectations among wire rod buyers for lower prices and caused them to postpone their purchases. In addition, the loss of strength of the Turkish lira against the US dollar, with the lira reaching 2.51 to a dollar yesterday, February 11, has increased the cautiousness among Turkish wire rod buyers and has become a major reason for the current slackness of activity in the local Turkish wire rod market.
$1 = TRY 2.49