Local Turkish official wire rod prices rise as week ends

Turkish mills have mostly raised their wire rod prices by $20/mt to $665-695/mt ex-works compared to Wednesday, May 10. Kardemir announced its 6-27 mm wire rod price at $655/mt ex-works, yesterday, May 11, and closed its wire rod sales earlier today. Sources report the mill succeeded in selling around 25,000 mt of wire rod, while the final tonnage is not clarified by the time of publication.

Icdas has issued its official wire rod price at $695/mt ex-works today. An Iskenderun-based mill has issued its official wire rod price today at TRY 13,400/mt ex-works ($685/mt), excluding VAT, rising by TRY 400/mt ($20/mt) over the same period. It is worth mentioning that, although Marmara-based wire rod prices are stable, the mill has set its exchange rate at $1 = TRY 20.50 for today's pricing.

A few buyers are monitoring import scrap prices and waiting for the elections, while a few buyers are restocking with material to be on the safe side.

Most suppliers are offering for May-early 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.