Over the past week, demand for Turkish wire rod in the global market has weakened, while Turkish wire rod producers have maintained their export quotations unchanged at $540-550/mt FOB week on week. However, buyers have exerted downward pressure on prices. Besides the downward movement of global scrap prices, demand for Turkish wire rod in Africa and the Far East has weakened since CIS-based wire rod suppliers’ offers are at $515-520/mt FOB and also as Chinese wire rod suppliers have entered the global market by decreasing their prices to $545-560/mt FOB. According to market sources, a Turkish producer has concluded a deal to Israel at $540/mt FOB. Meanwhile, no new Turkish wire rod booking has been heard in Europe, where 74 percent of the import quota for wire rod, due to expire in February next year, has been used up.