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) |
|
06.03.2018 |
|||
Marmara |
640-660 |
0 |
|
Thrace |
635-640 |
0 |
|
Izmir |
640-650 |
0 |
|
Iskenderun |
640-650 |
0 |
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.
Following the upward movement registered last week, scrap and billet prices in Turkey have remained unchanged this week, while Turkish buyers’ demand for scrap is at low levels given the increased caution among Turkish scrap buyers caused by the declines recorded in Chinese steel quotations and the weakening of international long steel demand. Meanwhile, the uncertainty in the international steel markets created by the 25 percent Section 232 tariff imposed by the US on steel imports from all countries except Mexico and Canada has also contributed to the overall slowdown seen in global steel demand.
Under the current circumstance, the price rises seen in the Turkish long steel market on dollar basis have come to a halt for now, with domestic wire rod prices remaining stable week on week. On the other hand, Turkish wire rod producers are in no rush to conclude new sales as their order books are full, while they are only receiving orders for future production dates. As a result, domestic wire rod prices in Turkey are expected to maintain their current high levels in the short term.