On the other hand, Turkey's other important wire rod export markets, the Middle East and North Africa, have been showing increased interest in cheaper Chinese wire rod offers. However, there is hope that interest in Turkish wire rod may improve in these markets due to the Chinese government's decision to remove the export tax rebate on boron-added steel products as of January 1, 2015. Therefore, Turkish producers' export offers for wire rod may be revised upwards, while it will become clearer in the coming period whether the new price levels will gain acceptance from buyers in the export markets.
How will Turkish wire rod exports be impacted by China’s removal of export rebate?
According to market sources, Turkish producers' mesh quality wire rod offers to the export markets have increased by $5/mt over the past week to $515-530/mt FOB, depending on tonnages. Meanwhile, ex-Turkey wire rod offers to the US market are currently in the range of $606-628/mt DDP loaded truck at US Gulf ports. Market sources state that demand in European markets and in the US, which is Turkey's most important wire rod export market, has been weak due to the Christmas and New Year holidays, while Turkish wire rod offers to the US are still more attractive than the prices of local US production.
Marketplace Offers
Wire Rod
Diameter
6.5 - 60 mm
Tedarikçi
BRILLIANCE MAHK IMPORT & EXPORT (SHANGHAI) CO., LIMITED
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