Today, May 15, Turkish integrated mill Kardemir has raised its wire rod prices by $5/mt, as compared to its price issued on Thursday, April 25, against the backdrop of the ongoing currency fluctuations.
Accordingly, Kardemir’s price for 5.5 mm SAE 1008-1010 grade wire rod stands at $620/mt ex-works, while its 6-27 mm wire rod of the same steel grade is offered at $605/mt ex-works. In addition, 28-56 mm wire rod of the same steel grade is offered at $625/mt ex-works.
"I am quite surprised that the mill has increased its wire rod price, going against the negative sentiment on the demand side," one source commented.
Kardemir’s 6-27 mm wire rod price is close to the lower end of the general official price range for the same specifications in Turkey which has varied at around $600-640/mt ex-works.
Wire rod prices exclude 20 percent VAT.
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