Demand for Turkish
wire rod in the export markets is still at low levels. Meanwhile, Turkish
wire rod export prices have moved sideways during the past week at $430-440/mt FOB against the backdrop of Turkish steel producers, who had not concluded any deep sea scrap purchases since the first week of May, recommencing their purchases of deep sea scrap, and also due to the slight improvement seen in demand for Turkish rebar in the export markets. Market sources believe that Turkish steel mills may offer discounts of around $10/mt in negotiations in order to stimulate sales.