Turkish official domestic wire rod prices mostly decline

Over the past week, Turkish official domestic wire rod prices have mostly decreased by $7,5-10/mt due to the negative sentiment in the import scrap market.

Most Turkish mills are offering for February-early March delivery, while a limited tonnage is available from stocks, depending on the size and quality. In the Iskenderun region, most mills stopped their production after the huge earthquakes which hit southeastern Turkey. One Iskenderun-based mill is only organizing deliveries of existing orders and are not quoting any fresh prices for now, SteelOrbis has heard. It is foreseen that steel production in the region will not start at least until the end of this month.

Kardemir’s price for 6-27 mm wire rod of SAE 1008-1010 grade has remained at $725/mt ex-works. Most local buyers are taking their time regarding new purchases and are monitoring the import scrap price trend.

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.