Today, April 2, Turkish integrated mill Kardemir has significantly cut its local wire rod price, having also reduced its rebar and billet prices on the same day. The key reason for the decreases is the extremely weak demand in the domestic longs market in Turkey.
Accordingly, the producer’s wire rod offers have dropped sharply by TRY 100/mt ($28/mt) compared to one week ago. As a result, Kardemir’s price for 5.5 mm SAE 1008-1010 grade wire rod is now at TRY 2,780/mt ($417/mt) ex-works, while its 6-28 mm wire rod of the same steel grade is currently on offer at TRY 2,735/mt ($410/mt) ex-works. No fresh sales have been heard yet.
The offer is valid for orders for 500 mt and higher, with 25 percent on cash payment basis, with 25 percent each on 30-day, 60-day and 90-day deferred payment basis, and with no interest accruing due to payment deferral.
Prices exclude 18 percent VAT.
$1 = TRY 6.67
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