SteelOrbis has been informed by market sources that local producers’ price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are currently as follows:
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
|
11.06.2019 |
|||
|
Marmara |
515-520 |
0 |
|
|
Thrace |
510-515 |
0 |
|
|
Izmir |
505-510 |
↓ |
2,5 |
|
Iskenderun |
505-510 |
↓ |
5 |
The above prices, which are on actual weight basis, exclude VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.
During the past week, domestic wire rod prices in Turkey’s Marmara and Thrace regions have remained stable, while prices in the Izmir and Iskenderun regions have decreased by $2.5/mt and $5/mt, respectively. It is reported that this fall recorded in Izmir and Iskenderun has been caused by the weakness of demand in these regions, while in general domestic wire rod demand is believed to be stronger than domestic demand for rebar.
Meanwhile, SteelOrbis has been informed that local buyers have started to exert downward pressure on domestic wire rod prices following the decreases recorded in import scrap quotations in Turkey. Also, Turkish wire rod buyers continue to conclude purchases only in line with their daily needs.
On the other hand, Turkish mills’ wire rod export offers may become more attractive in the Far Eastern markets, with the support of lower global scrap quotations, since steelmakers using iron ore in production have lost their cost advantage due to higher global iron ore prices. Turkish mills may increase their domestic wire rod prices if their export sales accelerate.