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) |
|
|
13.03.2018 |
|||
|
Marmara |
650-660 |
↑ |
5 |
|
Thrace |
645-650 |
↑ |
10 |
|
Izmir |
640-650 |
0 |
|
|
Iskenderun |
655-665 |
↑ |
15 |
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 followed diverse trends depending on the region of the country. While demand and supply have differed from region to region, domestic wire rod prices in most regions have moved up over the past week, while prices in Turkey’s Izmir region have remained stable week on week.
Market sources state that the ongoing price declines in the Chinese steel market as well as the 25 percent tariff imposed on imports by the US - which will come into effect on March 23 - have both given rise to increased concerns in the global markets. Additionally, domestic wire rod prices in Turkey have been revised upwards amid the depreciation of the Turkish lira against the US dollar, while in some regions Turkish mills have postponed the upward revision to keep demand at lively levels.
Domestic wire rod supply in Turkey’s Iskenderun region has declined as one of the local producers had halted its production at the beginning of March for maintenance purposes. This temporary decline in the supply volume has been reflected in prices. Meanwhile, Turkish wire rod producers are not expected to reduce their domestic wire rod prices because their order books are fairly full.