Over the past week, Turkish mills have decreased their official wire rod prices by $4-5/mt in the Izmir and Iskenderun regions, while keeping them unchanged in the rest of the country, amid ongoing currency fluctuations and sluggish demand.
An Iskenderun-based mill has issued its official wire rod price today at TRY 16,350/mt ($582/mt) ex-works, excluding VAT, down by $4/mt on US dollar basis over the past week. The exchange rate is taken as $1 = TRY 28.10 for pricing in the Iskenderun region as no other exchange rate has been specified locally.
Sources report additional discounts are applicable for serious buyers. Most local buyers are delaying new purchases ahead of the Turkish Central Bank’s interest rate decision due Thursday, October 26.
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
17.10.2023 |
||
|
Marmara |
595-600 |
0 |
|
Thrace |
575-580 |
0 |
|
Izmir |
565-570 |
-5 |
|
Iskenderun |
582 |
-4 |
The above prices, which are on actual weight basis, exclude 20 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.