Weak domestic wire rod demand in Turkey

Tuesday, 31 July 2018 16:23:39 (GMT+3)   |   Istanbul
       

SteelOrbis has been informed by market sources that local producers’ price levels in the Turkish domestic market for 6-7 mm mesh quality wire rod are as follows:

Region

Price ($/mt)

Price change ($/mt)

24.07.2018

Marmara

600-610

 

0

Thrace

595-600

 

0

Izmir

590-600

 

0

Iskenderun

590-600

 

0

 

The above prices, which are on actual weight basis, exclude VAT and are on ex-works basis. The offers may differ depending on buyers and order sizes.

Demand in the local Turkish wire rod market has remained weak over the past seven days. Market sources state that market players consider the current market conditions to be uncertain and so they are maintaining a wait-and-see stance to gain a clearer picture of the market, especially given the accelerated depreciation of the Turkish lira against the US dollar. On the other hand, Turkish wire rod mills are reportedly focusing on their export sales, particularly concluding sales to European Union countries. With the support provided by export sales, Turkish steelmakers have kept their domestic wire rod offers stable week on week despite the weak domestic demand. 


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