According to market sources, Turkish producers' mesh quality
wire rod offers to the export markets have remained stable week on week in the range of $455-470/mt FOB, depending on buyers and tonnages. Following the possible increases in scrap prices, Turkish
wire rod suppliers are expected to revise their prices upwards in the coming days and the outlook for this upward movement is likely to depend on the
wire rod demand in the export markets.
Meanwhile, although the Chinese New Year holiday ended on Tuesday, February 24, Chinese steel producers are expected to announce their new offers next week and their semi-finished and finished steel offers are likely to prompt a significant impact on the price trend in the global market. Also, Chinese producers have begun to offer chrome-added
wire rod for export as of the beginning of this year, but these offers were expected to attract much interest due to quality concerns. Market players state that
wire rod buyers in some regions are still cautious about concluding deals for Chinese chrome-added
wire rod, while buyers from the Middle East continue to be interested in the Chinese offers, reporting that they have tested the products and observed no quality problems