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Isdemir strike pushes Turkish wire rod prices up

Keywords: Tags  wire rod, Turkish wire rod prices, rebar, merchant bar, Isdemir, Turkish steel mill, Cem Turken, Serife Durmus Naomi Christie

LONDON — Turkish wire rod prices have inched up while rebar and merchant bar have weakened slightly, market sources said, attributing the move to a strike that has halted production at Iskenderun Demir ve Çelik Fabrikaları AS (Isdemir).

The price difference between rebar and wire rod is widening, sources said, because wire rod was affected much more than rebar.

The strike at Isdemir, one of the largest steel mills in Turkey, was expected to continue until the post-Ramadan holiday, which runs from Aug. 7-11, market participants said.

With wire rod prices increasing slightly because of the strike at Isdemir, Turkish wire rod export prices were at $595 to $610 per tonne f.o.b., up from $590 to $610 per tonne last week, according to AMM sister publication Steel First. The domestic price was $610 to $620 per tonne ex-works, also up from $610 to $615 per tonne last week.

Merchant bar export prices weakened amid low demand from the construction sector, sources said.

Merchant bar export prices were at $620 to $640 per tonne f.o.b., down from $630 to $655 per tonne last week.

Cem Turken and Serife Durmus, Bursa, Turkey, contributed to this story.

A version of this article was first published in AMM sister publication Steel First.

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