Local Turkish official wire rod prices stable

Over the past week, Turkish domestic official wire rod prices have remained stable amid sluggish demand.

Most Turkish mills are offering for February delivery, while a limited tonnage is available from stocks, depending on the size and quality. In the Iskenderun region, most mills have stopped their production after the 7.8 magnitude earthquake which hit southeasten Turkey on Monday morning.

Kardemir’s price for 6-27 mm wire rod of SAE 1008-1010 grade has remained at $725/mt ex-works.

When the current adverse weather conditions and sluggish demand are taken into account, the market is expected to gain clarity by next week. “The emergency situation in the Iskenderun region and helping the people in the southern part of Turkey is our first priority. We are keeping our sales open but trade is of secondary priority,” one source mentioned.

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.