Turkey’s local and export wire rod prices increase due to higher import scrap prices

Local Turkish mesh quality wire rod prices have increased by $10-15/mt week on week. Market sources indicate wire rod supply is still limited in Iskenderun and with the current lead time being for February delivery. Currently, Turkish mills in Iskenderun are not making offers, citing the strong trend of import scrap quotations. While one of them is expected to announce its long product prices tomorrow, a representative of another local producer stated, “If I might quote any mesh grade wire rod price today, it will not be below 480/mt for February delivery.” Meanwhile, in the local Turkish market, drawing quality wire rod demand is better compared to mesh quality wire rod demand due to strong steel wire demand from the European Union.

On the export side, most mesh quality wire rod suppliers have also increased their offers, raising them by $12.5/mt over the past week to $475-480/mt FOB for January-February production.

Currently, the local offers for 6-7 mm mesh quality wire rod are as follows:

The above prices, which are on the actual weight basis, excluding 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.