Turkish wire rod export prices have increased by $15/mt during the past week to $550-560$/mt FOB. Buyers in the international markets consider this price range to be on the high side and so they are unwilling to conclude bookings of large tonnages of Turkish rebar, only concluding deals in line with their needs.
Despite the weakness of demand, the import scrap quotations in deals concluded by Turkish electric arc furnace-based mills have increased sharply. This has pushed up Turkish wire rod prices, with the gradual rising trend of Turkish wire rod export prices continuing over the past week.