Domestic wire rod prices in Turkey move up for second consecutive week

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:

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. 

With the support provided by the upward movement of global scrap and billet prices during the past week, domestic wire rod quotations in Turkey have moved up for the second consecutive week, increasing by an average of $10/mt week on week. Market sources state that Turkish wire rod producers’ order books are full due to plenty of orders received recently from European buyers and, as a result, they are failing to meet domestic demand, while the tight supply situation is providing support for the increases in prices.  According to market sources, Turkish steel mills are only accepting orders for May output. Under the current circumstances, expectations of a further increase in domestic wire rod prices in Turkey are gaining strength.