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 |
581-589 |
Thrace |
585-597 |
Izmir |
574-585 |
Iskenderun |
560-575 |
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 $560-597/mt ex-works, excluding VAT. Recently, Turkish wire rod producers were facing difficulties because of cheaper Chinese wire rod offers. Turkish buyers found the significantly cheaper Chinese wire rod offers to be more attractive, also given the backdrop of the occasional supply tightness in wire rod supplies in the domestic market due to Turkish producers' decision to focus on the export markets instead of on their local market.
However, according to the decision of the Turkey's Council of Ministers published in the country's Official Gazette dated Saturday, October 18, Turkish import duty rates on wire rod and steel bars have been increased, except for such products from the EU region and from countries with which Turkey has free trade agreements. The new import duty on boron-added wire rod is now at 40 percent compared to the three percent announced on December 31 last year. The new duty margins are considered to be a favorable development for Turkish wire rod producers, with local production becoming the only alternative for some wire rod buyers. Market sources state that the market is quiet right now in the aftermath of the decision to impose import duties. Meanwhile, Turkish producers are expected to revise their prices upwards in the coming days.
$1 = TRY 2.23