Buyers push for lower ex-CIS wire rod offer prices

SteelOrbis has been informed that, after the completion of sales of March production materials, new ex-CIS mesh quality wire rod offers for April rolling to the export market have been announced at $560-565/mt FOB, indicating a decline of $10/mt since last week. Meanwhile, since there are plenty of wire rod offers available in the CIS, China and Turkey, competition among suppliers is fierce. Due to this competition, buyers in the CIS' export markets, who find the current offers to be on the high side, have started to push for offers at lower prices and are not in a hurry to conclude new deals.
 
In addition, CIS wire rod offers to Europe have trended sideways since last week, remaining at $600-610/mt DAP.