Demand for Turkish
wire rod in the export markets is still slack, not having recorded any recovery over the past week, while Turkish
wire rod prices have declined by $5/mt in the same period to $325-335/mt FOB.
The main reasons behind the decline seen in Turkish
wire rod export offers are the ongoing pressure exerted by buyers on prices and ex-CIS
wire rod offers, especially to the US, which constitute aggressive competition for Turkish
wire rod. Meanwhile, ex-CIS
wire rod offers to the US are on average $30/mt lower than Turkish
wire rod quotations to the same destination. Accordingly, US buyers prefer to conclude deals for ex-CIS
wire rod.