Local Turkish official wire rod prices decline

Monday, 27 March 2023 16:46:35 (GMT+3)   |   Istanbul
       

Turkish suppliers have cut their local wire rod prices amid the negative sentiment in the import scrap and billet segments. Icdas has cut its official wire rod price by $10/mt to $760/mt ex-works today, leading also to small price adjustments in the rest of the country. Most suppliers are offering April material, while a limited tonnage is available from stocks. The wire rod export segment is also sluggish, which adds to the lack of support for prices. Moreover, one Iskenderun-based mill has cut its wire rod price by $5/mt to $765/mt ex-works today. Another mill in the region is expected to start its production in the short term.

Most local buyers are refraining from new purchases and are monitoring import scrap and billet prices. In addition, although enquiries have been received from end-users or constructors, the liquidity issue and the unclear financial situation in the country are the other challenges to be taken into account.

Region      

Price ($/mt)      

Price change ($/mt)      

21.03.2023      

Marmara      

780-785      

-5   

Thrace      

755-760     

-10      

Izmir      

760-770     

-5    

Iskenderun      

765 

-5    

The above prices, which are on actual weight basis, exclude 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.


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