Wire rod prices in the Turkish domestic market have trended sideways since last week at TRY 1,153-1,229/mt ($633-675/mt) ex-works, exclusive of 18 percent VAT. However, it is known that producers may offer even lower prices for larger volume orders.
Since some steel mills reduced their outputs this week, shortages have been observed in certain regions in the domestic market for some wire rod sizes and buyers state that it takes time for them to obtain supplies of these products. Meanwhile, wire rod demand has not shown significant changes since last week, while buyers have continued to conclude transactions in line with their needs.
On the other hand, Turkish mills' wire rod export offers are still at $630/mt FOB, for August shipments.
SteelOrbis has learned that current offers for mesh grade 6.5-8 mm wire rod in the local Turkish steel market are as follows:
Region | Price |
Marmara | TRY 1,430-1,450/mt ($666-675/mt) ex-works |
Izmir | TRY 1,360-1,370/mt ($633-638/mt) ex-works |
Iskenderun | TRY 1,417-1,439/mt ($660-670/mt) ex-works |
Wire rod prices for Thrace stand at TRY 1,380/mt ($643/mt) ex-works in Biga, Çanakkale.
The above prices are on actual weight basis. The dollar prices exclude VAT, while the TRY prices include VAT. It is heard that lower prices are also available in the market for real buyers.
$1 = TRY 1.82