Turkish producers' most commonly reported wire rod offers to the export markets have declined by $20/mt over the past two weeks to $405-410/mt FOB. Meanwhile, demand for Turkish wire rod in the export market is currently slack. Turkish traders state that only sales of small tonnages of Turkish wire rod have been concluded to the North Africa. Moreover, competition in the Middle East - one of the most important export markets for Turkish wire rod - has become difficult due to the dominance of low-priced Chinese wire rod offers.
Meanwhile, Turkish wire rod offers to the US have decreased by $17/mt over the past two weeks to the range of $508-529/mt DDP US Gulf ports. The steady declines seen in Turkish wire rod offers to the US have continued since demand for Turkish products has remained slack in the US market.