Local Turkish official wire rod prices mostly stable

Over the past week, most Turkish mills have kept their official wire rod prices stable, while only the official wire rod price in the Iskenderun region has been reduced by $5/mt.

One Iskenderun-based mill has cut its wire rod price by $5/mt week on week to $610/mt ex-works.

It is rumored that Kardemir has sold around 10,000-15,000 mt of 6-27 mm SAE 1008-1010 grade wire rod at $600/mt ex-works since Thursday, April 25, and its sales are still open. 

The general sentiment on the demand side is sluggish. A few mills are applying aggressive pricing strategies to generate sales, but most local buyers are delaying new purchases.

The above prices, which are on actual weight basis, exclude 20 percent VAT and are on ex-works basis. The offers may differ depending on the buyers and order sizes.