Wire rod prices in Turkey mostly stable

Local Turkish wire rod prices have fallen by $10-20/mt in the Izmir and İskenderun regions and remained unchanged in the rest of the country. Most Turkish mills are offering mainly for September-October delivery, while a limited tonnage is available for delivery from stocks depending on the size and quality.

One Iskenderun-based mill has decreased its official wire rod price by $20/mt to $660/mt ex-works today, August 31. Another mill in the Iskenderun region is not quoting any wire rod price due to its scheduled maintanence works in September. Kardemir has not closed its wire rod sales for 6-27 mm wire rod of SAE 1008-1010 grade at $635/mt ex-works, which were opened on Tuesday, August 23. According to sources, around 20,000 mt of wire rod were traded and sales of a further small tonnage of wire rod is awaited in order to close its sales. Sources report a few mills are also applying aggressive pricing and giving sizeable discounts in order to generate sales.

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.