Market sources report that February production mesh quality
wire rod prices in the local
UAE market can be found in the range of $590-595/mt ex-works, indicating a decline of $5/mt over the past three weeks, while domestic mills continue to offer discounts depending on order volumes. Meanwhile, no new
wire rod offers from
Turkey have been heard in the
UAE market, whereas Chinese
wire rod offers to the country stand at $565-570/mt CFR Dubai.
Sources tell SteelOrbis that demand in the local market is decent, while
UAE wire rod mills are expected to announce their new price levels for March production
wire rod. Even though demand is on the good side, March production
wire rod prices are expected to decline due to the softening in scrap prices and the downward trend of Chinese
wire rod offers.