SteelOrbis has been informed by market sources that local producers’ price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are as follows:
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
|
12.02.2019 |
|||
|
Marmara |
540-545 |
↓ |
15 |
|
Thrace |
545-550 |
↓ |
5 |
|
Izmir |
555-560 |
0 |
|
|
Iskenderun |
540-545 |
↓ |
5 |
The above prices, which are on actual weight basis, exclude VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
Turkish wire rod producers have reduced their domestic prices to $540-560/mt ex-works against the backdrop of the weakness of demand and the fall seen in scrap quotations. Having recovered slightly over the previous weeks, demand in the local Turkish wire rod market is once again sluggish. Additionally, Turkish steel mills are in a tight spot since the quota imposed by the European Union (EU) - an important export market for Turkish wire rod - on wire rod imports from Turkey has already been filled. Turkish wire rod mills do not expect a recovery in their domestic demand in the short term due to the economic outlook for Turkey, while they are awaiting openings in the quotas determined by the EU for other countries.