Local wire rod prices of Turkish mills close the week with increases

SteelOrbis has heard that the current offers for 1008 grade 6.5-8 mm wire rod in the local Turkish market are as presented below. Increases observed in scrap and billet prices have also weighed on wire rod prices. As of today, March 27, Turkish mills have continued to apply price hikes - a trend which started to be seen towards the beginning of the week. It is expected in the market that wire rod prices may show further increases in the coming week. Some end-users who have maintained their production operations continue to purchase only to satisfy their needs. However, in the coming week we will observe with interest the direction of other end-users who are still holding back from purchasing activities.

The above prices are on actual weight basis. The dollar prices exclude VAT, while the TRY prices include VAT. 

US$1 = TRY 1.67918