During the past week, Turkish producers’ wire rod export offers have increased by $5/mt to $505-515/mt FOB. SteelOrbis has been informed that, having filled their order books for July, some Turkish mills are heard to be offering prices slightly higher than the $515/mt FOB level.
A Turkish steelmaker has concluded sales to Mauritania and Senegal for 7,000 mt and 8,000 mt of mesh grade wire rod at $556/mt CFR and $550/mt CFR, respectively, for shipment at the beginning of August. In this context, one may say that Africa stands out among Turkish suppliers’ target wire rod markets. In addition, SteelOrbis has been informed that Turkish suppliers are also negotiating for wire rod sales to Tunisia and Morocco.
On the other hand, cargoes consisting of a total of 10,000-12,000 mt of a mixture of rebar and wire rod have been sold from Turkey to Israel at $505/mt CIF LO and $535/mt CIF LO. Based on this, one may say international wire rod demand is still strong.
Meanwhile, as of July 4, Turkey has already used 168,132 mt of its 312,081 mt EU wire rod quota for the new quota period which started on July 1, and so European buyers are reluctant to conclude new purchases of Turkish wire rod.