Wire rod demand weakens in Libya

Market sources state that wire rod demand in the Libyan domestic market, which is an important wire rod export destination for Turkey, has started to soften. Local prices stand at LYD 820-840/mt ($656-672/mt) ex-works. In the meantime, the latest Turkish wire rod offers to the country stand at $625-640/mt CFR. Market players report that political instability in the country has hit the local market. In addition, the gradual appreciation of the US dollar against the Libyan dinar has caused a cautious approach among buyers as regards conclusions of new bookings.
 
$1 = LYD 1.25