Turkish wire rod export quotations move down

Although Turkish wire rod producers’ export sales have accelerated slightly against the backdrop of the Wire & Tube 2018 Conference held in the current week in Düsseldorf, overall demand for Turkish wire rod in the international markets has remained weak. Along with the weakness of demand, the declines recorded in import scrap and billet prices in Turkey have been reflected in Turkish mills’ wire rod export prices. As a result, Turkish wire rod producers have reduced their export quotations by an average of $30/mt week on week to $590-600/mt FOB.