Today, February 19, Turkish integrated mill Kardemir has cut its wire rod prices by $5/mt as compared to its price issued on Wednesday, February 5, against the backdrop of sluggish demand.
Accordingly, Kardemir’s price for 5.5 mm SAE 1008-1010 grade wire rod stands at $575/mt ex-works, while its 6-27 mm wire rod of the same steel grade is offered at $560/mt ex-works. In addition, 28-56 mm wire rod of the same steel grade is offered at $580/mt ex-works.
"Kardemir's wire rod price seem a bit high under the current market conditions" one source commented.
The wire rod prices exclude 20 percent VAT.