Local Turkish wire rod prices adjusted downwards

Today, March 16, local Turkish wire rod list prices have been reduced by an average of $5-10/mt depending on the mill. The key reasons for the adjustment are the currency fluctuations and the diverse expectations regarding import scrap prices. In the local market, Turkish mills are mostly offering for May deliveries. According to sources, special discounts are applicable for serious buyers. Most wire rod buyers are refraining from new purchases in order to gain a clearer picture of the situation in the import scrap market.

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.