SteelOrbis has heard that Turkish producers are offering mesh quality
wire rods for export at $565-570/mt FOB on actual weight basis for April shipments.
Wire rod market has started to rally. Bookings have been heard at $560/mt FOB. In addition, mills are able to do early shipments. In particular, the delays in bookings from
China to
Europe are allowing Turkish and Egyptian mills to enter the market again. Furthermore, the possibility of the Chinese VAT rebate cancellation is also providing support for the Turkish and Egyptian mills.