Although wire rod offers from Turkey to the US have remained stable in the last week, market factors point to a possible uptrend as soon as next week. Following the end of Ramadan, demand for long products in the Middle East has increased and Turkish mills are already upping their offers to those regions for rebar, with wire rod quotations not far behind.
However, even though US traders expect Turkish mills to bump their offer prices as well, lackluster demand in the US—combined with softening prices at US mills—will likely result in few transactions at higher prices. Until those new offers come around, offers for Turkish import wire rod remain in the range of $22.00-$23.00 cwt. ($440-$460/nt or $485-$507/mt) DDP loaded truck in US Gulf ports.