CIS wire rod suppliers prefer to focus on Europe instead of Middle East

SteelOrbis has been informed that ex-CIS wire rod offers have softened by $5-10/mt over the past week to $550-560/mt FOB Black Sea. CIS wire rod producers state that they have reduced their prices for the Middle East to be able to compete with low ex-China wire rod offers. However, the CIS producers prefer to focus on the European market as the price cuts they have already made have been insufficient to allow them to compete with the Chinese in the Middle East. Demand for wire rod in Europe is reported to be good.
 
Meanwhile, the latest CIS wire rod offers to Europe have increased by $5/mt during the past week and are now at $600-610/mt DAP.