In the current week, demand for Turkish
wire rod in the export markets has remained slack. Nevertheless, Turkish steel producers have increased their
wire rod export offers further due to their higher production costs caused by the ongoing upward price movement of billet and import scrap. Turkish
wire rod offers to the export markets have risen by $25/mt on the lower end and $30/mt on the upper end during the past week to $535-550/mt FOB. Market sources state that the price uptrend seen in the global finished steel market has continued, despite faltering slightly. As a result, market sources expect Turkish
wire rod prices in the export markets to increase further in the coming days, though at a slower pace.