Turkish official domestic wire rod prices mostly trend down

Over the past week, Turkish mills have mostly cut their official wire rod prices by $1-10/mt, except in the Marmara region where the official wire rod price has remained unchanged ahead of the Feast of Sacrifice holiday. Kardemir’s wire rod sales are still open, with its 6-27 mm wire rod price at $660/mt ex-works.

An Iskenderun-based mill has issued its official wire rod price today at TRY 15,200/mt ($645/mt), falling by TRY 100/mt ($1/mt), excluding VAT, over the same period. One Marmara-based mill has set its exchange rate at $1 = TRY 23.68 for today’s pricing. The exchange rate is taken as $1 = TRY 23.58 for today's pricing in the Iskenderun region as no other exchange rate has been specified locally.

Most suppliers are offering for July delivery, while a limited tonnage is available from stocks. Most local buyers are monitoring the import scrap segment and are evaluating the wire rod prices from Malaysia and Egypt. The main issue is the unclear economic situation in Turkey in the time it takes the material from these destinations to arrive in Turkey, one source mentioned.

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.