Local Turkish official wire rod prices have remained unchanged in the Izmir and Thrace regions in the past week amid sluggish demand, with prices decreasing in the Marmara and Iskenderun regions, by $20/mt.
Most suppliers are attempting to keep their wire rod prices stable taking higher energy costs into account. However, most buyers are exerting pressure for further discounts. According to sources, sizeable discounts are applicable for serious buyers, against the backdrop of the depreciation of the Turkish lira against US dollar, with the exchange rate at $1 = TRY 18.33 lately.
Most Turkish mills are offering for October delivery, while a limited tonnage is available for delivery from stocks depending on the size and quality.
One Iskenderun-based mill has cut its official wire rod price by $20/mt to $720/mt ex-works today. The producer’s price had remained stable at $740/mt ex-works since Tuesday, September 13. Another mill in the Iskenderun region is not quoting any wire rod price as it is carrying out maintenance works.
|
Region |
Price ($/mt) |
Price change ($/mt) |
|
14.09.2022 |
||
|
Marmara |
725-730 |
-20 |
|
Thrace |
725-730 |
0 |
|
Izmir |
695-705 |
0 |
|
Iskenderun |
720 |
-20 |
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.