Local Turkish wire rod prices increase sharply

Tuesday, 01 March 2022 17:18:47 (GMT+3)   |   Istanbul
       

Turkish domestic wire rod prices have risen by $20-40/mt over the past week, and are mostly for April-May delivery. The main reasons for the increase are the positive sentiments in the billet sector, higher energy costs and currency fluctuations. Sources report that a further $20/mt may be added to wire rod prices in the Izmir region soon.

One Iskenderun-based mill increased its official wire rod price by $10/mt to $840/mt ex-works by the end of last week. In addition, the supplier has raised its wire rod prices by $10/mt two days in a row and they are now at $860/mt ex-works for May delivery. The mill has closed its wire rod sales in short term. Another mill in the Iskenderun region has closed its wire rod sales. Most wire rod buyers are taking their time to monitor import scrap and billet prices while just purchasing to meet their daily needs for now.

Region

Price ($/mt)

Price change ($/mt)

22.02.2022

Marmara

865-870

+40

Thrace

845-850

+30

Izmir

825-835

+20

Iskenderun

860-N/A

+30

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.


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