Market sources state that
wire rod demand in the Libyan domestic market, which is an important
wire rod export destination for
Turkey, has started to soften. Local prices stand at LYD 820-840/mt ($656-672/mt) ex-works. In the meantime, the latest Turkish
wire rod offers to the country stand at $625-640/mt CFR. Market players report that political instability in the country has hit the local market. In addition, the gradual appreciation of the US dollar against the Libyan dinar has caused a cautious approach among buyers as regards conclusions of new bookings.
$1 = LYD 1.25