No significant change in demand in Turkish wire rod market

In the Turkish domestic wire rod market, prices for mesh quality wire rod are at TRY 1,279-1,320/mt ($703-725/mt) + VAT ex-works. Nevertheless, just as in the previous weeks, producers are heard to be offering lower prices again as compared to their official asking prices, for large volume orders. Last week, wire rod prices in the local Turkish market were standing at TRY 1,270-1,307/mt ($698-718/mt) + VAT ex-works.
 
This week, demand in the Turkish domestic wire rod market has not shown any significant change as compared to last week. Due to the fluctuation in the US dollar-Turkish lira exchange rate seen in the first days of the week, the domestic wire rod market has not indicated any notable increase in activity levels - as in the local billet and rebar markets. Accordingly, Turkish buyers prefer to postpone transactions and just observe the market, especially as it is difficult to predict the exchange rate trend in the coming days.
 
On the other hand, Turkish producers' wire rod export offers have remained unchanged as compared to last week and are still in the range of $680-690/mt FOB for April shipments. Although some transactions have been heard in the Turkish export market, Turkish producers' wire rod offers have still failed to attract interest.
 
$1= TRY 1.82