Domestic wire rod prices in Turkey decreased by at least $20/mt since early August due to low domestic buyers’ activity, sliding import scrap. Currently, the tags for 6-7 mm mesh quality wire rod are as follows:
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
07.08.2019 |
||
|
Marmara |
485-490 |
-25 |
|
Thrace |
485-490 |
-25 |
|
Izmir |
475-480 |
-25 |
|
Iskenderun |
485-490 |
-20 |
The above prices, which are on actual weight basis, exclude 18 per cent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
On August 20 the integrated Kardemir announced the wire rod price at TRY 2,700/mt ex-works (excluding VAT), which corresponds to $472/mt ex-works according to $1 = TRY 5.72 rate. The move has added pressure on the other Turkish mills, especially from the international buyers. However, it is very difficult to meet the target price of $470/mt ex-works level considering the current import scrap price, which is approximately $280/mt CFR Turkey for HMS I/II 80:20. Latest export offers for wire rod from Turkey were heard mainly in $485-490/mt FOB, SteelOrbis has learned.