Turkish steelmakers’ wire rod export offers have decreased by $5/mt week on week to $500-505/mt FOB, while it is also heard that some mills with full order books for June and July are offering levels slightly higher than $505/mt FOB. Meanwhile, firm bids from European buyers are still in the range of $490-495/mt FOB.
Meanwhile, Turkey’s wire rod export offers to Israel - an important wire rod export market for Turkish mills - have also declined by $5/mt week on week to $525-530/mt CIF LO. Additionally, CIS-based suppliers are in the Israeli market trying to conclude wire rod export sales with their offers being in the range of $515-520/mt CIF LO. As a result, one may say Israeli buyers hold strong bargaining power ahead of their new wire rod purchases.
On the other hand, price inquiries for Turkish wire rod are mostly received from the Caribbean, West Africa and South America.