Demand for Turkish wire rod in the export markets is still weak. With the declines seen in import scrap prices in Turkey and due to the weak demand conditions, Turkish wire rod exporters have reduced their offers to the export markets by $10/mt week on week to $330-340/mt FOB. Meanwhile, inquiries for Turkish wire rod have increased in Morocco and Egypt over the past week, but these inquiries have not led to deals.
In the US, Turkey's most important wire rod export market, Ukrainian and Brazilian wire rod offers still constitute strong competition for Turkish wire rod offers. Also, increases seen in domestic wire rod prices have failed to gain acceptance from US buyers. As a result, the buyers are only concluding new deals for minimum tonnages of locally produced or imported wire rod in line with their needs.