During the past week, demand for Turkish
wire rod in the export markets has remained at low levels. In the same period, Turkish
wire rod export prices have declined by $35/mt on the lower end and by $30/mt on the upper end to $500-520/mt FOB due to the falls recorded in global billet quotations since last week.
Despite the reductions in Turkish
wire rod offers to the export markets, buyers are still in no rush to conclude new bookings of Turkish
wire rod. Buyers in
Turkey's target markets believe that the declines in global billet quotations have not yet been fully reflected in prices of finished steel products, adding that they expect Turkish
wire rod export prices to fall further.