Local Turkish wire rod prices have decreased by $5-10/mt over the past week due to the weaker scrap prices and the persisting lack of demand. Most buyers are on hold for new purchases due to currency fluctuations and sluggish end-user activity. The month of May is expected to show some improvement in terms of construction. However, the effects of Covid-19 and Ramadan may result in a slower pace of resumption of construction activities. No supply shortage has been seen in the wire rod market in Turkey just yet.
Currently, the local offers for 6-7 mm mesh quality wire rod are as follows:
Region |
Price ($/mt) |
Price change ($/mt) |
28.04.2020 |
||
Marmara |
425-435 |
-10 |
Thrace |
420-425 |
-10 |
Izmir |
420-425 |
-5 |
Iskenderun |
415-425 |
-10/-5 |
The above prices, which are on actual weight basis, excluding 18 percent VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.