Turkish domestic official wire rod prices move downwards

Over the past week, Turkish domestic official wire rod prices have mostly move downwards amid weaker import scrap prices and currency fluctuations. In addition, most local buyers are exerting pressure for further discounts due to the unclear financial situation in the country. 

Most Turkish mills are offering for February delivery, while a limited tonnage is available from stocks, depending on the size and quality. One Iskenderun-based mill has opened its wire rod sales at $710/mt ex-works today, falling by $10/mt compared to the end of last week. Another mill in the region has issued its wire rod price at $730/mt ex-works today. One producer in Izmir has only made minor changes in its wire rod prices amid its ongoing wire rod deliveries, SteelOrbis has heard. 

Kardemir's 6-27 mm wire rod of SAE 1008-1010 grade price has kept at $710/mt ex-works in its latest issued price list dated Wednesday, January 18. 

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