In the Italian domestic wire rod market, prices for drawing quality low carbon wire rod are still at €460/mt ($501/mt) delivered to customer, remaining unchanged compared to last week. Meanwhile, mesh quality wire rod prices have also remained stable and are still at €420-430/mt ($458-467/mt) delivered. Similar to the situation with Italian rebar exports, Italian wire rod sales to Algeria are not possible since Algeria has still not released import licenses. However, the Italian domestic wire rod market is not in a bad condition thanks to decent demand and the low availability of wire rod in the European market, which in turn is caused by the lack of shipments from Ukraine.
Additionally, import offers - such as those from Turkey - are not competitive enough to hamper orders from Italian buyers.
€1 = $1.09