Turkish producers reduce wire rod export prices

Friday, 10 May 2019 17:58:32 (GMT+3)   |   Istanbul

Turkish wire rod producers’ mesh grade wire rod offers to the international markets have decreased by $7.5/mt week on week to $495-510/mt FOB. Similar to last week, the fall in Turkish producers’ billet and rebar export offers has been reflected in their wire rod quotations. Having already filled their order books for May and June, some Turkish mills have offered wire rod export prices above the level of $510/mt FOB to buyers, but the general range is observed to be at $495-510/mt FOB.

In the wire rod export markets, SteelOrbis has been informed that Turkish steelmakers have concluded wire rod export sales to the Far East region together with rebar cargoes. Although Far Eastern buyers’ price inquiries continue for Turkish wire rod, buyers are observed to be remaining cautious as they prefer to see the result of the US-China trade negotiations.  Additionally, Turkish producers are still receiving price inquiries from African countries and from Israel, though buyers are limiting their purchases in line with their needs as lower scrap quotations and weak demand exert pressure on prices.

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