Turkey’s wire rod producers have increased their domestic and export prices significantly since mid-July, supported by the steady uptrends in the import scrap and billet segments. Local wire rod prices have moved up by $10-15/mt. In particular, in the Iskenderun region mills are now offering at $460-470/mt ex-works. Marmara region-based producers’ prices are generally standing at $465-470/mt ex-works, while a small sale is reported to have been closed at the higher end of the range. In the Izmir region, the price has generally settled at $465/mt ex-works for now. Domestic demand for wire rod in Turkey is said to be at satisfactory levels, partly due to the fact that the mills’ price increases are considered to be justified by the increased cost of production, SteelOrbis understands.
Wire rod export offers from Turkey have also moved up by $10-15/mt over the past week, to the general range of $455-465/mt FOB. A 5,000 mt lot was traded to Israel at $450/mt FOB, while another 3,000 mt were sold to Africa at $455/mt FOB, both for October shipments, sources stated