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 | 556-567 |
Thrace | 556-564 |
Izmir | 549-560 |
Iskenderun | 530-540 |
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 $530-567/mt ex-works, excluding VAT. Declining scrap prices have put additional pressure on Turkish wire rod prices, while demand in the Turkish wire rod market has been weak since last week. Despite Turkey's decision to increase duty rates on wire rod to 40 percent compared to the three percent announced on December 31 last year, stocks of Chinese wire rod in the Turkish market have increased significantly due to deals concluded before the new import duty rate was introduced. Accordingly, the downward movement of wire rod prices in the local Turkish market has accelerated. On the other hand, with the US Federal Reserve announcing that it will no longer add to its holdings of treasury bonds and given speculation about increases in interest rates, the US dollar has strengthened against the Turkish lira, increasing to 2.27-2.28 against the lira as of today, November 7. Market sources state that, consequently, Turkish producers may increase their wire rod prices on Turkish lira basis.
$1 = TRY 2.27