According to market sources, Italian producers' domestic offers for drawing quality wire rod have remained almost stable in the past few weeks, despite the slight decline in local scrap prices at the beginning of April and the low wire rod demand from many downstream industries. Meanwhile, according to sources, import offers are still not competitive and so they are not putting pressure on local wire rod producers.
Italian producers' domestic offers for drawing quality wire rod are still at €470-480/mt ($498-509/mt) delivered to customer, excluding 22 percent VAT, remaining unchanged compared to three weeks ago, when prices had recorded an increase of €25/mt on week-on-week basis.
€1 = $1.06