Welding quality (S1 and SG2 grade) wire rod offers soften

In the Turkish domestic wire rod market S1 grade wire rod prices are currently standing at the level of $510-520/mt ex-works, excluding VAT, on actual weight basis. Meanwhile, SG2 grade wire rod prices in Turkey are currently standing at the level of $620-630/mt ex-works, excluding VAT, on actual weight basis. It is heard that there are some problems in terms of supplying S1 and SG2 grade wire rods from local mills, thus import offers are being evaluated with greater interest. In addition, it is observed that payment deferral periods have been extended considerably on the import side. This week, it is reported that S1 grade wire rod offers given from southern Europe to Turkey are at the level of €370-390/mt ($479-504/mt) CFR, while SG2 grade wire rod offers given from northern Europe to Turkey are at the level of €460-470/mt ($595-608/mt) CFR – both for March/April shipments. Buyers in Turkey are leaning towards these offers for the time being. €1 = US$1.29342