Local Turkish wire rod prices increase as week ends

Turkish domestic wire rod prices have increased by $50-70/mt compared to mid-week amid higher energy prices and rapid currency fluctuations. Most Turkish mills are offering for late September-October delivery, while a limited tonnage is available for delivery from stocks depending on the size and quality.

One Iskenderun-based mill hiked its official wire rod price by $20/mt to $680/mt ex-works yesterday and stopped quoting as of today. Another mill in the Iskenderun region is still not quoting any wire rod price due to its scheduled maintenance works in September. 

Kardemir also yesterday increased its wire rod sales for 6-27 mm wire rod of SAE 1008-1010 grade, by $20/mt to $655/mt ex-works. Only a small tonnage of wire rod is confirmed to have been sold at $655/mt ex-works by the time of publication. Most local buyers are monitoring import scrap and billet prices before stocking.

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.