Turkish official domestic dollar-based wire rod prices decline

Over the past week, Turkish mills have cut their official wire rod prices amid the ongoing depreciation of the Turkish lira against the US dollar, while Kardemir has kept its 6-27 mm wire rod price at $675/mt ex-works today. 

Icdas has announced its official wire rod price at $660/mt ex-works. It previously used to quote its wire rod price in the local currency. An Iskenderun-based mill has issued its official wire rod price today at TRY 13,300/mt ($649/mt), excluding VAT, rising by TRY 300/mt, while falling by $5/mt on US dollar basis amid the ongoing depreciation of the Turkish lira against the US dollar. Although the wire rod price of one Marmara-based mill has fallen by $10/mt today, it has set its exchange rate at $1 = TRY 21.20 for today's pricing. The exchange rate is taken as $1 = TRY 20.50 for today's pricing in the Iskenderun region as no other exchange rate has been specified locally. 

Most suppliers are offering for June 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.