Turkish producers' most commonly reported
wire rod offers to the Middle East and to North and West Africa have moved down by $5/mt on the lower end during the past week to $355-370/mt FOB, while Turkish producers have continued to conclude
wire rod sales of just small tonnages to Israel and to North and Central Africa.
Meanwhile, Turkish mesh quality
wire rod offers to the US have risen further by 5/mt during the past week. However, buyers in the US market have rejected this increase and so actual deals have been concluded in the range of $365-375/mt CFR FO US Gulf Coast ports. Market sources state that the difference between the prices in the local US market and Turkish
wire rod offers have narrowed significantly, leading US buyers to purchase locally produced
wire rod. Accordingly, demand for Turkish rebar in the US market has been quiet during the past week.