Turkish domestic wire rod prices follow diverse trends

Local Turkish wire rod prices have increased by $20/mt in the region of Thrace since Thursday, May 20, due to mostly filled export order books. Although wire rod demand is relatively better than demand for rebar, local buyers are finding it difficult financially to accept wire rod prices above $800/mt ex-works. As a result, wire rod prices have decreased by $20/mt in the Marmara and Iskenderun regions, while remaining unchanged in the Izmir region over the same period. According to sources, one Iskenderun-based mill succeeded in selling around 2,000-3,000 mt of wire rod at $800/mt ex-works early this morning and has increased its wire rod price by $10/mt to $810/mt ex-works at noon today. Most Turkish mills are offering for late July-August deliveries.

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.