Local Turkish official wire rod prices mostly increase

Turkish mills have raised their official wire rod prices by $10-18/mt in the Marmara and Iskenderun regions compared to Monday, May 29, against the backdrop of the ongoing depreciation of the Turkish lira against the US dollar. Kardemir's wire rod sales are still open, with its 6-27 mm wire rod price at $660/mt ex-works. In addition, wire rod prices in the Izmir region have been cut by $5/mt over the same period amid aggressive pricing.

An Iskenderun-based mill has issued its official wire rod price today at TRY 14,000/mt ($667/mt), excluding VAT, due to the ongoing depreciation of the Turkish lira against the US dollar. Although the wire rod price of one Marmara-based mill has risen by $10/mt today, it has set its exchange rate at $1 = TRY 21.50 for today's pricing. The exchange rate is taken as $1 = TRY 21 for today's pricing in the Iskenderun region as no other exchange rate has been specified locally.

Most suppliers are offering for June delivery, while a limited tonnage is available from stocks.

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.