Local Turkish wire rod prices increase further

Turkish mills have increased their prices by $7.5-30/mt over the past week in line with the positive sentiment in the import scrap segment. Moreover, most mills are keeping their wire rod prices firm on the back of their full order books. Most mills are offering material for February deliveries, while a few mills have already started offering for March delivery.

Local Turkish wire rod buyers are struggling to reflect higher prices in their own end product prices, preventing them from quoting competitive prices to end-users.

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.