Italian producers' domestic offers for drawing quality wire rod have moved up by $17.5/mt on average to €450-460/mt ($477-487/mt) delivered to customer over the past two weeks. However, producers are aiming to increase their prices further in the coming days, thanks to the recent rises in local and international scrap prices, despite the weak demand for wire rod. According to market sources, such increases could amount to a minimum of €20/mt compared to previous levels, with the situation regarding increases expected to become clearer in the coming week. Meanwhile, import wire rod volumes remain low since import offers are not competitive.
€1 = $1.06