SteelOrbis has learned that in the Turkish domestic market SG2 grade wire rod prices are currently standing at the level of $945-955/mt ex-works, while S1 grade wire rod prices are at $835-845/mt ex-works, both on actual weight basis and exclusive of 18 percent VAT. For high tonnage bookings, some producers are also offering slightly lower prices. However, the sudden changes in the US dollar/Turkish lira exchange rate are influencing buyers' decisions.
In the meantime, SteelOrbis has further learned that European mainstream SG2 grade wire rod offers to Turkey are at €695-705/mt ($1,001-1,015/mt) CIF, for September shipments. However, it is reported that offers from Germany are far above this price range.
€1 = $1.44