Market sources report that the uncertainties in the global steel markets resulting from the 25 percent Section 232 import tariffs in the US and from the declining trend of Chinese rebar and billet export quotations have caused steel purchases to be postponed in the international markets.
On the other hand, Turkish wire rod producers are happy with their domestic demand, especially as their order books have been full for a long time now, and so they are focusing on their domestic market. It is observed that Turkish wire rod export quotations are mainly at $630-640/mt FOB, while Turkish steel mills are unwilling to reduce their export prices since they are focusing on their domestic market. However, some Turkish wire rod exporters, which have not yet filled their order books, may offer discounts of $10-20/mt if they need to stimulate their sales, market sources added.