The increases in long steel product prices in the Turkish domestic market have been seen in wire rod quotations as well. Accordingly, in this week's Turkish domestic wire rod market, the price range has increased by approximately TRY 15/mt ($8/mt) as compared to last week to TRY 1,288-1,323/mt ($716-735/mt) + VAT ex-works. Nevertheless, as in previous weeks, producers are heard to be offering lower prices for large volume orders.
Wire rod demand in the Turkish domestic market has remained moderate this week, while market players are hopeful for the market's prospects in the coming weeks. Demand is expected to increase in the domestic wire rod market in the weeks ahead, reflecting the stronger demand in the local rebar market.
On the other hand, Turkish mills' wire rod export offers have showed an increase of $5/mt on the lower end of the range, reaching $690-695/mt FOB. However, no booking has been heard so far at this price range.
$1 = TRY 1.80