Turkish domestic wire rod prices mostly stable

Local Turkish domestic wire rod prices have mostly been stable since the end of last week, against the backdrop of sluggish demand, the unclear financial situation in the country and rapid currency fluctuations. 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 issued its official wire rod price at $730/mt ex-works yesterday and has kept its wire rod price stable today. Another mill in the Iskenderun region is still not quoting any wire rod price as it is carrying out maintenance work this month.

On the demand side, most local buyers are taking their time before concluding new purchases and are monitoring the import scrap and billet price trends.

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.