Turkish producers' mesh quality wire rod offers to the export markets have remained unchanged over the past two weeks and still stand at $600-605/mt CFR, while ex-Turkey drawing quality wire rod prices are currently at $615-625/mt FOB.
There were strong expectations in the market that scrap prices would decline. Buyers have accordingly tried to build up pressure on wire rod producers to lower their prices, but Turkish producers have maintained their strong stance on prices as demand in the market has been satisfactory.
Additionally, inquiries for ex-Turkey wire rod continue to come from the US market, while mesh quality wire rod offers from Turkey to the US are currently at $645-660/mt CFO FO US Gulf ports.
Meanwhile, market sources report that there is tightness of availability for some dimensions at Turkish producers and so from time to time they experience difficulties in supplying materials for prompt sales. According to market sources, wire rod demand is at good levels in the Middle East and North Africa and most Turkish producers have filled their order books for June.