Following their downward movement seen last week, Turkish wire rod export prices have continued to decline in the current week, decreasing by $10/mt week on week to $430-440/mt FOB. Accordingly, Turkish wire rod export prices have softened by a total of $30/mt during the past two weeks, due to the impact of reduced input costs for Turkish mills especially given that the downward trend of import scrap prices in Turkey has gained momentum this week. Furthermore, expectations have increased among overseas wire rod buyers for further declines in prices and this has also contributed to the downtrend of Turkish wire rod export prices.