Wire rod prices in the Turkish domestic market, which were at TRY 1,161-1,222/mt ($638-671/mt) ex-works last week, are currently standing at TRY 1,153-1,229/mt ($633-675/mt) ex-works, exclusive of 18 percent VAT. However, it is known that producers may offer even lower prices for larger volume orders.
Billet and rebar prices in the local Turkish market saw some improvement last week in line with some scrap bookings and high volume transactions for billet and rebar. As a result, Turkish steel producer Icdas has revised its mesh quality wire rod prices upward by TRY 20/mt ($11/mt) to TRY 1,169/mt ($643/mt) + VAT ex-works. Turning to this week, wire rod prices have indicated increases in some regions of Turkey, while in the other regions prices have followed sideways trend. Meanwhile, wire rod demand has not shown significant changes since last week, while buyers have continued to conclude transactions in line with their needs.
On the other hand, Turkish mills' wire rod export offers had been standing at $620/mt FOB early last week and had increased to the level of $625-630$/mt FOB towards the end of the week. Current wire rod export offers from Turkish mills are still at $630/mt FOB, for July shipments.
SteelOrbis has learned that current offers for mesh grade 6.5-8 mm wire rod in the local Turkish steel market are as follows:
Region | Price |
Marmara | TRY 1,420-1,430/mt ($661-666/mt) ex-works |
Izmir | TRY 1,360-1,370/mt ($633-638/mt) ex-works |
Iskenderun | TRY 1,417-1,450/mt ($660-675/mt) ex-works |
Wire rod prices for Thrace stand at TRY 1,380/mt ($643/mt) ex-works in Biga, Çanakkale.
The above prices are on actual weight basis. The dollar prices exclude VAT, while the TRY prices include VAT. It is heard that lower prices are also available in the market for real buyers.
$1 = TRY 1.82