Demand for Turkish wire rod in the international markets has been at low levels during the past week. As a result of the ongoing trade war between the US and China as well as the protectionist measures to be approved by the European Commission, international buyers are cautious and are maintaining a wait-and-see stance.
Additionally, it is observed that foreign buyers are exerting pressure on Turkish wire rod quotations due to lower import scrap prices in Turkey. Meanwhile, Turkish producers’ wire rod export offers have remained stable week on week at $580-590/mt FOB.