Improved activity has been observed this week in the Turkish domestic wire rod market. In particular, as a result of the uptrend in scrap offers to Turkey caused by increasing scrap demand from the Far East, Turkish wire rod producers have this week tried to reflect the increase in their production costs in their product prices. Thus, a slight uptrend has been seen in Turkish wire rod prices both for the domestic and export markets.
This week, price levels of $480-490/mt FOB for mesh quality wire rod in the export markets have been mentioned by Turkish producers. While the African market has in the current week continued to attract attention as the leading export market for Turkish wire rod, competitive Chinese origin boron-added wire rod offers are still dominating in offers given to markets in the Far East. Meanwhile, the Singapore market has also been attracting the interest of Turkish wire rod producers. In addition, the impact of the Turkish export fair held in Senegal will be seen in the coming period.
Turkish wire rod producers have this week gained some hope with the news regarding the AD decision in the US against material from Trinidad and Tobago. Meanwhile, in these days when shipments of previously-concluded wire rod deals in Turkey are continuing, in general it seems really difficult to hear of new Turkish wire rod export deals. While the order books of Turkish wire rod producers are relatively full for November, the same cannot yet be said for December. Since wire rod demand from Southern Europe currently lacks strength, acceptance of Turkish wire rod offers in this market seems unlikely for the time being.