SteelOrbis has been informed that Turkish producers' mesh quality
wire rod offers to the export markets have decreased by $5-10/mt compared to the levels seen last week before the Feast of Sacrifice holiday and are currently in the range of $580-595/mt FOB, while producers' offers vary depending on tonnages.
Market sources report that demand for Turkish
wire rod is currently weak in the US which had recently become one of the most important export markets for Turkish producers. US
wire rod buyers are putting pressure on Turkish producers'
wire rod offers due to declining scrap prices and are asking for attractive discounts before accelerating their purchases.
The Middle East, which is another important export market for Turkish
wire rod, is being targeted by cheaper Chinese
wire rod offers and it has become harder for Turkish rebar producers to compete with the Chinese offers in the region.
On the other hand, Chinese producers have continued to lower their prices for the Turkish market, with ex-China offers to
Turkey now in the range of $465-470/mt CFR, and purchases of the cheaper Chinese
wire rod have been observed in the market. According to market sources, some Turkish producers have even started to evaluate the ex-China offers. At present, global buyers find Turkish
wire rod export prices to be on the high side, while some Turkish producers prefer not to give offers to the export markets in the current circumstances.