Local Turkish wire rod prices increase slightly

Local Turkish wire rod prices have moved up by $5-10/mt over the past week supported by the positive sentiment in the scrap segment. Currently, mills are offering wire rod either from their stocks or for June production. In the Iskenderun region, wire rod prices are higher compared to other mils’ offers as most material is available for July deliveries. In addition, there has been some limited supply of certain sizes as one of the local producers restarted production only last week. Sources report stocks are generally at medium levels and buyers are focused on meeting their daily needs and do not want to build up extra stocks for now.

Currently, the local offers for 6-7 mm mesh quality wire rod are as follows:

The above prices, which are on the actual weight basis, excluding 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.