Local Turkish wire rod prices have also followed the upward trend seen in the rebar segment. The local mills have increased their domestic official wire rod prices by $5-60/mt week on week depending on the region. In addition, stronger scrap prices have been supporting the price situation, SteelOrbis understands.
One mill in the Iskenderun region has stopped offering wire rod until May 17, expecting higher prices, while another mill in this region has set its list price at $830/mt ex-works.
As a result, in two regions wire rod offers have exceeded $800/mt ex-works, while mills from the other two main areas in the country are expected to announce new price increases shortly.
According to sources, domestic wire rod prices may increase further due to the positive sentiment in the import scrap segment and the favorable effect of the cancellation of the Chinese export tax rebate for wire rod. Most Turkish mills are offering for late July-August deliveries.
Region |
Price ($/mt) |
Price change ($/mt) |
05.05.2021 |
||
Marmara |
810-815 |
+40 |
Thrace |
780-785 |
+10 |
Izmir |
770-780 |
+5 |
Iskenderun |
830 |
+60 |
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.