Local Turkish wire rod prices move down further

Tuesday, 27 August 2019 16:46:39 (GMT+3)   |   Istanbul
       

Domestic wire rod prices in Turkey have decreased by at least $5/mt week on week as the ex-US scrap price has hit a new low in a sale to Turkey and also due to the low demand in the domestic market. Currently, prices for 6-7 mm mesh quality wire rod are as follows:

Region

Price ($/mt)

Price change ($/mt)

20.08.2019

Marmara

480-485

-5

Thrace

475-480

-10

Izmir

470-475

-5

Iskenderun

480-485

-5

 

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.

Market players indicate that wire rod buyers are maintaining a wait-and-see stance for the time being. However, some Turkish mills believe that wire rod export sales might improve in September as Europe will be back from its holiday, and so they are trying to keep their wire rod prices firm.


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