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 as follows:
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
|
16.10.2018 |
|||
|
Marmara |
540-550 |
↓ |
5 |
|
Thrace |
535-540 |
↓ |
5 |
|
Izmir |
530-540 |
↓ |
5 |
|
Iskenderun |
530-540 |
↓ |
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.
It is observed that demand in the local Turkish wire rod market has slowed down further over the past week and is still at low levels. Market sources state that demand for Turkish wire rod in the international markets have also decreased, and so Turkish wire rod producers have relinquished their profit margins, reducing their domestic wire rod prices by an average of $5/mt week on week, despite the ongoing high levels of global scrap quotations. On the other hand, buyers in the local Turkish wire rod market have maintained their wait-and-see stance as they are monitoring the depreciation of the Turkish lira against the US dollar with apprehension.