Turkish producers’ most commonly reported wire rod offers to the export markets have decreased further by $5/mt on the low end during the past week to $355-370/mt FOB. Market sources state that demand for Turkish wire rod in the export markets is still at medium levels, while Turkish producers continue to conclude wire rod sales to Egypt and North Africa.
Meanwhile, Turkish mesh quality wire rod offers to the US have decreased by $20/mt over the past week to the range of $360-370/mt CFR FO US Gulf Coast ports, while buyers’ firm bids are at $355-360/mt CFR. Market players state that buyers are trying to gain acceptance for their firm bids, citing the downtrend of import prices of scrap and billet in Turkey. Besides, it has heard this week that an ex-CIS wire rod deal to the US has been concluded at $350/mt CFR.