It is observed that Turkish wire rod producers have reduced their mesh quality wire rod offers to the international markets by $10/mt week on week to $500-520/mt FOB. The falling trend recorded in billet and rebar export prices has been reflected in wire rod prices in the current week. While Turkish wire rod mills with already-full order books for May and June are seeking to maintain their export offers at the upper end of the abovementioned price range, other mills with a greater appetite to conclude new sales are offering prices at the lower end. Additionally, SteelOrbis has been informed that Turkish wire rod producers have started negotiations for the European Union’s new quotas to be opened in July and that buyers are cautious about concluding new deals.
South American countries, Haiti in the Caribbean, and Tunisia and Morocco in North Africa are prominent destinations for Turkish wire rod export sales. Additionally, SteelOrbis has been informed that some Turkish wire producers are focusing on the North Africa market for their export sales.