More expensive scrap metal raises wire rod prices in Turkey

Turkish wire rod producers have further increased their quotes as prices for imported scrap metal continue to rise.

Turkish factories' prices for wire rod, which last week stood at $ 460-470 per tonne, rose to $ 475-485 per tonne in Turkey. However, some factories have higher prices up to $ 500 /tonne available, especially those that are fully booked for a longer period.

While some factories express satisfaction with both domestic and export demand, most factories are less than satisfied with the demand situation.

A Turkish wire rod manufacturer says: “It is very difficult to talk about the real situation on the market. Our raw material costs are growing very quickly. We can regret the sales you completed a day ago due to the sharp increase in our production costs. "

“To be satisfied with demand, we must be able to sell at that day's offer prices. But we still have to make big discounts to complete sales, ”he adds.

“Scrap prices should be set first,” says another manufacturer. "We cannot reflect the rate of increase in scrap prices in our sales prices for wire rod."

While no new sales of wire rod in large quantities were heard last week, orders for small batches were awarded to buyers in South America, Africa and the Middle East at $ 460-470 /t based on quantity.