According to SteelOrbis, Italian producers' domestic offers for drawing quality
wire rod have been at €435-440/mt ($461-466/mt) delivered, but they may increase in the coming period as producers are targeting price levels of at least €450/mt ($477/mt) for March deliveries, i.e., the same levels seen at the beginning of January, before the Italian scrap market was influenced by the decline of import scrap prices in Turkey.
Prices in the local Italian
wire rod market are foreseen to increase against the backdrop of the upward trend of domestic and global scrap prices. As for domestic
wire rod demand, sources said that in January and February it has not been strong, but should increase in the coming period as buyers need to build up their supplies.
€1 = $1.06