During the past week, demand for Turkish
wire rod in the export markets has declined further and is still at low levels. In the meantime, import scrap and billet prices to
Turkey have also moved down. With the reduction in their production costs, Turkish steel producers have lowered their
wire rod export prices by an average of $20/mt week on week to $440-450/mt FOB in an attempt to compete with CIS-based
wire rod suppliers in the international markets where demand is currently slack.