Turkish mills start to take an active role again in US wire rod market

Market sources report that Turkish wire rod export offers have shown no changes since last week at $570-585/mt FOB. Demand on the export side is at better levels as compared to local the market, while inquiries and demand are mostly coming from the US, Middle Eastern and North African markets.
 
Demand for Turkish wire rod in the US market has strengthened following the announcement of the US Department of Commerce regarding the initiation of an antidumping and countervailing duty investigation on imports of wire rod from China. Some Turkish producers have already concluded deals in the US wire rod market, with their latest offers levels standing at $605-625/mt CFR for mesh quality wire rod and at $620-640/mt CFR for drawing quality wire rod. Meanwhile, Turkish wire rod offers will likely move up in line with the expected further improvement in US demand for Turkish wire rod.