Market sources report that Turkish wire rod export offers have softened by $10/mt on the lower end since last week to $570-585/mt FOB amid the ongoing decline in import scrap prices. Some ex-Turkey wire rod deals for small tonnages have been concluded in the Middle East and North Africa, while activity has improved more on the export side as compared to the situation in the local Turkish market.
Market insiders confirm that Turkish wire rod offers for Libya stand at $610-630/mt CFR, though no new deals have been heard yet in this range. Meanwhile, inquiries for ex-Turkey wire rod continue to be heard from the US and market players indicate that demand for Turkish wire rod in the US will likely improve further in the coming days.
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