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) |
|
|
30.04.2019 |
|||
|
Marmara |
510-520 |
↓ |
10 |
|
Thrace |
515-525 |
↓ |
10 |
|
Izmir |
510-530 |
↓ |
20 |
|
Iskenderun |
515-525 |
↓ |
10 |
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.
Turkish wire rod producers have reduced their domestic prices by $10-20/mt over the past week to $510-530/mt ex-works. Meanwhile, it is observed that the depreciation of the Turkish lira against the US dollar has gained momentum following the Turkish Supreme Electoral Council’s decision to repeat the local elections in Istanbul.
Turkish wire rod buyers are still avoiding stock replenishments as Ramadan started yesterday, May 6, and also due to the unpredictable future trend of the exchange rate, while Turkey’s construction sector continues to slow down. Although buyers considered last week’s ex-CIS wire rod offers to Turkey at $480/mt CFR to be attractive, the uncertainty surrounding welded wire mesh demand in Turkey is causing buyers to adopt a cautious stance as regards import wire rod purchases.