SteelOrbis has been informed by market sources that price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are as follows:
Region | Price ($/mt) |
Marmara | 612-620 |
Thrace | 612-620 |
Izmir | 604-612 |
Iskenderun | 590-600 |
The above prices, which are on actual weight basis, do not include VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
After the presidential election in Turkey held on August 10, the Turkish lira has weakened to 2.16-2.17 against the US dollar, causing some local mills to revise their wire rod prices on TRY basis upwards. Local wire rod quotations are currently trending at $590-620/mt ex-works.
Markets sources inform SteelOrbis that demand in the domestic market is slow, while some import bookings for wire rod have been concluded in line with buyers' needs. In addition, if import scrap prices continue to rise, Turkish wire rod producers may hike their prices as well, though it will become clearer whether demand, which is currently low, will support this increase in the coming days. Meanwhile, inventory levels in Turkey's Iskenderun region have been rising since a mill in the region activated its wire rod production line in early August, putting pressure on prices in the region.