Wire rod offers from Turkey to the export markets have increased by an average of $10/mt during the past week to $500-510/mt FOB. It is heard that buyers in the international markets consider Turkish wire rod export quotations to be on the high side, while Turkish wire rod producers are still focusing on the demand they are receiving from their domestic market.
Although demand for Turkish wire rod in the international markets is at low levels, it is believed that Turkish steel mills may increase their wire rod export prices in the coming days against the backdrop of the rises seen in import scrap and billet quotations in Turkey.