Turkish domestic wire rod prices decline

In the past week, Turkish local wire rod prices have decreased by $60-100/mt against the backdrop of the rapid currency fluctuations and the negative mood in the import scrap and billet segment. Most wire rod producers are offering mainly for August or September delivery, while a limited tonnage is available from stocks depending on the size and quality. A few mills are targeting higher wire rod prices due to their extended delivery period, while most local buyers are exerting pressure for further discounts. A few mills have adopted aggressive pricing to generate sales. Today, Kardemir has announced its 6-27 mm mesh grade wire rod prices at $675/mt ex-works, which is closer to the lower end of the general price range.

One Iskenderun-based mill has kept its official mesh grade wire rod prices at $720/mt ex-works, while another mill in the region has closed its wire rod sales.

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.