A variety of price levels are still being heard this week in the different regions in Turkey's local wire rod market. It is observed that this week traders have been playing a more prominent role in this market. It is heard that wire rod bought from the other regions at lower price levels have been sold to southern Turkey. In the same context, it is observed that some producers have this week revised their price levels, slackening their prices a bit. Despite all, it is not possible to give a common definite price level for the local Turkish market this week. Also this week, it is heard that some producers have been trying to focus on high carbon and special quality wire rod sales, while trying to restrict their sales of low carbon wire rod.
Although it is mentioned that the price level for low carbon wire rod in the local Italian market has this week been at €700/mt ($982/mt) ex-works excluding VAT, it is said that there have been some purchases at lower prices compared to this level. It is reported that some producers in this country are stepping up their maintenance works while waiting for the market to gain greater clarity. On the local demand side, end-users are continuing their weekly purchases.
In Dubai, it is heard that the wire rod price level in the local market is at an average of $1,000/mt ex-works, excluding VAT. It is also reported that the traders are becoming more active in this market which is currently showing a downward trend, and that they are trying to sell off their previously bought positions in this falling market.
No export offers from Turkey have been heard this week in Dubai. While it is mentioned that the 1008 grade boron-added wire rods are being offered from China at $950-970/mt CFR Dubai for late September. It is reported that the boron-added wire rod export offers from China to this region are mostly being given for September due to the uncertainty over the export duty in China for this material. In recent weeks, ex-Ukrainian export offers to Dubai have started to be seen. Ukrainian origin low carbon wire rods are being offered at $1,000/mt CFR for late September shipments.
While the price levels for 1008 grade wire rod in the local Bulgarian market have been at $976-998/mt ex-works excluding VAT, it is heard that there are Ukrainian origin offers for drawing quality material to this country at $900/mt FOB Ukraine for September shipments.
Although no Turkish export deals have been heard this week, it is reported that some Turkish producers are considering offering low carbon wire rods to Romania at an average level of $900/mt CFR Romania, while some other producers are refraining from giving a definite export price level. Furthermore, it is mentioned in the market that some producers have been maintaining their deliveries for deals concluded in the period of high price levels.
In the Turkish domestic SG2 grade wire rod market, the price range is still at $1,260-1,500/mt ex-works excluding VAT. In addition, there is an expectation that some producers may revise their SG2 grade material price lists next week. Although no new import offer for the material in question has been heard this week, it is thought that some producers may import SG2 grade material at price levels close to the local Turkish market levels due to the sharp depreciation of the euro. On the other hand, it is reported that some end-users are not eager to buy in material due to their high stock levels.