Turkish mills fail to compete with China in UAE wire rod market

SteelOrbis has learned that local wire rod prices in the UAE domestic market have remained unchanged since last week at $605-615/mt ex-works, while mills are still offering discounts for higher volume orders. In the meantime, Chinese wire rod offers to the UAE are ranging at $560-575/mt CFR Dubai.
 
Market sources state that buyers in the UAE are currently buying only what they really need. No bookings for ex-Turkey wire rod have been heard lately in the UAE, as Turkish offers are found to be higher than both UAE domestic prices and Chinese offers.