During the past week, Turkish mills’ wire rod export offers have moved sideways at $500-510/mt FOB. SteelOrbis has been informed that buyers are still exerting pressure on prices and that discounts are available on the offer range for serious buyers.
With Turkey as of July 25 already having used 188,588 mt of its 312,081 mt EU wire rod quota for the new quota period which started on July 1, European buyers are cautious about concluding new purchases of Turkish wire rod. However, SteelOrbis has been informed that some international buyers are still making price inquiries for Turkish wire rod due to the ongoing maintenance works of Spanish producers.
Meanwhile, having concluded rebar sales to the Southeastern Asia, Turkish mills are also trying to accelerate their wire rod sales to this region. Furthermore, Brazilian mills’ low wire rod production rates have meant that Brazil has become a target market for international wire rod suppliers, including Turkish suppliers.