Over the past two weeks, Turkish
wire rod export prices have remained stable at $460-480/mt FOB. Market players are currently maintaining a wait-and-see stance due to the change of trend seen in Chinese finished and semi-finished steel quotations which are now moving up, and also due to the rises seen in import scrap prices in
Turkey this week. As a result, demand for Turkish
wire rod exports has continued to be weak.
Despite the weakness of demand and the declines seen in global steel quotations in the first three weeks of April, Turkish steel producers were unwilling to reduce their
wire rod prices as their order books for April and May production were already fairly full.
The downward movement of global steel quotations created expectations for a decline in Turkish
wire rod prices among buyers, and so demand for Turkish rebar in the export markets remained weak in April.