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) |
|
|
07.05.2019 |
|||
|
Marmara |
510-520 |
- |
|
|
Thrace |
510-515 |
↓ |
7.5 |
|
Izmir |
505-520 |
↓ |
7.5 |
|
Iskenderun |
510-515 |
↓ |
7.5 |
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, Turkish producers have reduced their domestic wire rod prices by $7.5/mt to $505-520/mt ex-works.
Meanwhile, the sluggishness in the Turkish construction sector continues to have an impact amid political uncertainties, economic problems and Ramadan. Buyers in the local Turkish wire rod market are still concluding deals only to meet their daily needs due to the fluctuating trend of the Turkish lira-US dollar exchange rate. On the other hand, it is observed that wire rod demand in Turkey is stronger than domestic demand for rebar.
With the US dollar at $1.12 to the euro and also due to the delivery times of two-to-three weeks, wire rod imports from Europe are not attractive. For example; European SG3 grade wire rod (welding wire) offers to Turkey are heard to be at €625-635/mt ($700-711/mt) CFR for June shipment, but, considering the domestic sales of the same product at $630-650/mt ex-works excluding 18 percent VAT, European wire rod offers are not attractive for Turkish buyers due to their longer delivery terms and higher prices.