Market sources report that Turkish
wire rod export offers have shown no changes since last week at $570-585/mt FOB. Demand on the export side is at better levels as compared to local the market, while inquiries and demand are mostly coming from the
US, Middle Eastern and North African markets.
Demand for Turkish
wire rod in the
US market has strengthened following the announcement of the
US Department of Commerce regarding the initiation of an antidumping and countervailing duty investigation on imports of
wire rod from
China. Some Turkish producers have already concluded deals in the
US wire rod market, with their latest offers levels standing at $605-625/mt CFR for mesh quality
wire rod and at $620-640/mt CFR for drawing quality
wire rod. Meanwhile, Turkish
wire rod offers will likely move up in line with the expected further improvement in
US demand for Turkish
wire rod.