Wire rod price range contracts in local Turkish market, demand still silent

In this week's Turkish domestic wire rod market, the price range has contracted as compared to last week with an erosion on the upper end by about TRY 12/mt to TRY 1,280-1,305/mt ($711-725/mt) + VAT ex-works. Nevertheless, as in previous weeks, producers are heard to be offering lower prices as compared to their official asking prices for large volume orders.
 
Wire rod demand in the Turkish domestic market has remained silent again this week, showing no significant improvement as compared to last week. 
 
On the other hand, Turkish mills' wire rod export offers have showed a slight increase of $5/mt, reaching $685-695/mt FOB. While no booking has been heard so far at this price range, it is thought that the increased activity and higher prices in the scrap and rebar markets this week may also spill over to the wire rod market.