SteelOrbis has been informed by market sources that ex-CIS offers for mesh quality wire rod have softened by $5/mt since last week and are now standing at $575-580/mt FOB Black Sea, while offers from the CIS to the Middle East are at $565-575/mt FOB.
Market sources state that October production from CIS wire rod mills has been sold out completely, while demand is trending at medium levels. On the other hand, market players state that they do not expect any price increase in the coming days, as wire rod producers in Turkey, China and the MENA region are maintaining their strategic downward pricing policy in order to increase their market share.
On the other hand, sources state that ex-CIS wire rod offers to Turkey have decreased by $10/mt since last week to $590-595/mt CIF, while some wire rod transactions from Ukraine to Turkey’s Iskenderun region have been concluded at the level of $580/mt CIF. While Turkish wire rod producers are struggling somewhat to compete with the ex-CIS offers, offers for larger tonnages from China and CIS are at more attractive levels. Meanwhile, it is also stated that a large volume wire rod shipment from China which had been purchased at $545/mt CFR has arrived in the Iskenderun port recently.
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.