SteelOrbis has been informed by market sources that ex-CIS offers for November production mesh quality wire rod are standing in the range of $580-585/mt FOB Black Sea. After October production wire rod sales closed, it is observed that new price levels have increased by $5/mt as compared to prices for October production wire rod. Meanwhile, the latest wire rod transaction from the CIS to eastern Europe has been concluded at the level of $600/mt CFR. Market sources state that wire rod purchases may accelerate in the coming days and they expect that the new price levels will be accepted in the market.
On the other hand, wire rod offers from the CIS to Turkey have softened by $5/mt since last week to $585-590/mt CIF, while it is stated that Turkish buyers prefer booking from the CIS due to higher prices in the local Turkish market. In the meantime, after the most recent wire rod transaction from the CIS to the Marmara region at $580/mt CIF, no transaction from the CIS has been reported since.
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.