According to market sources, Turkish producers' mesh quality
wire rod offers to the export markets have decreased by $10/mt over the past week to the range of $500-520/mt FOB, depending on tonnages.
The Turkish import scrap market has indicated a significant decline following the latest deals concluded. Also,
prices in the local Turkish billet market have declined by $5-10/mt compared to the period before the New Year holiday. Accordingly, downtrend movement has been inevitable in Turkish
wire rod export prices, also given the weak demand in the export markets.
Meanwhile, ex-
Turkey wire rod offers to the US market are currently in the range of $606-628/mt DDP loaded truck at US Gulf ports. While Turkish
wire rod export offers to the US have become unattractive due to the loss of strength of the euro against the US dollar, the US continues to be the liveliest market for Turkish
wire rod exporters. Nevertheless, Turkish
wire rod producers' trading volumes to the US are lower than expected as US buyers have been waiting for further price declines before accelerating their purchases.