Demand for Turkish
wire rod in the export markets is still weak. With the declines seen in import scrap prices in
Turkey, Turkish
wire rod exporters have reduced their offers to the export markets by $10/mt week on week to $340-350/mt FOB, but the new offers have also failed to gain acceptance
In the US,
Turkey's most important
wire rod export market, increases seen in domestic
wire rod prices are considered to be unrealistic by US buyers. As a result, the buyers are unwilling to conclude any new deals for locally produced or imported
wire rod at present. Additionally, Ukrainian and Brazilian
wire rod offers to the US are very competitive despite the reductions seen in Turkish
wire rod offers.