Turkish mills seek to keep local wire rod prices stable this week

Turkish domestic wire rod prices have risen sharply amid stronger scrap prices and currency fluctuations over the past week. The local mills have increased their official domestic wire rod prices by $20-70/mt over the past week depending on the region. Most Turkish mills have been trying to keep their wire rod prices stable since the beginning of this week.

After levels above $800/mt started to be tested, most buyers are holding a wait-and-see stance to see now their financial situation matches with the new levels. 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.