Turkish mills are trying to gain a share of international wire rod demand which is livelier as compared to demand for rebar in the global market. Although Turkish mills are trying to keep last week’s levels of $525-540/mt FOB unchanged as they are unwilling to reduce their wire rod export prices due to high scrap prices, they are still offering lower prices for larger tonnages, and so the range of offer prices is now wider. In the current week, Turkey’s wire rod export prices are at $515-540/mt FOB, though foreign buyers are not inclined to accept the upper end of this range.
Despite the strong wire rod demand recorded in Europe, the import quota imposed by the European Union for Turkish wire rod has been exhausted, preventing Turkish mills from meeting European buyers’ needs. SteelOrbis has been informed that Turkish steel producers have been focusing on Africa and have concluded sales to this region.