SteelOrbis has been informed that price inquiries of international buyers for Turkish
wire rod have declined due to the apprehension in the global steel market caused by the sharp price decreases seen in the Chinese steel market.
Turkish
wire rod producers have reduced their export quotations by $20/mt on the lower end and $10/mt on the upper end to $460-480/mt FOB due to the weakness of demand which is slower compared to previous weeks. According to market sources, some Turkish producers have started to offer discounts of TRY 5-10/mt to the export markets, depending on tonnages and buyers, with the aim of stimulating their sales.