SteelOrbis has been informed by market sources that local producers’ price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are currently as follows:
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
|
18.06.2019 |
|||
|
Marmara |
510-515 |
↓ |
5 |
|
Thrace |
505-510 |
↓ |
5 |
|
Izmir |
500-505 |
↓ |
5 |
|
Iskenderun |
500-505 |
↓ |
5 |
The above prices, which are on actual weight basis, exclude VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
During the past week, domestic wire rod prices in Turkey have declined by $5/mt to $500-515/mt ex-works due to weak demand and since the Turkish lira has recorded a slight strengthening against the US dollar. Buyers are making bookings only to meet their immediate needs instead of replenishing their inventories, are exerting pressure on prices, and are also waiting for the sudden changes in the Turkish lira-US dollar exchange rate to subside before making new bookings. Meanwhile, it is heard that last week CIS-based suppliers made wire rod offers to Turkey at $475-480/mt FOB for July deliveries, though Turkish buyers have been unwilling to conclude ex-CIS wire rod bookings due to their predictions that domestic wire rod prices in Turkey may decline to the same levels before the cargoes arrive.