SteelOrbis has learned from market sources that ex-CIS offers for mesh quality wire rod have softened by $5/mt since last week and are now standing at $580-585/mt FOB Black Sea. Meanwhile, wire rod offers from the CIS to North Africa are at $580/mt FOB. Market sources state that, although wire rod producers from the CIS have almost filled their order books for October production, against a backdrop of unclear market conditions the abovementioned downward price adjustment is aimed at triggering new purchases amid a possible drop in demand.
On the other hand, ex-CIS wire rod offers to Turkey have remained unchanged since last week at $600/mt CIF, while it is reported that this price has been found to be on the high side by Turkish buyers. It is also stated that some transactions in the range of $585-590/mt CIF have recently been concluded to the Marmara region of northwestern Turkey.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.