With the influence of higher global scrap quotations resulting from the latest deals concluded in Turkey, Turkish wire rod producers have raised their export offers by $10/mt on the lower end week on week to $525-540/mt FOB.
Market sources state that demand for Turkish wire rod in the international markets is still at low levels as the slight recovery seen in the demand received from West Africa at the beginning of the current week has not been sustained in the following days. International buyers’ firm bids for Turkish wire rod are currently in the range of $505-510/mt FOB, while SteelOrbis has been informed that buyers are waiting for a fall in prices.