As reported by local operators, the Italian domestic wire rod market has remained stable in the past week. Italian producers' prices for drawing quality wire rod are still standing at €480-500/mt ($619-645/mt) delivered to customer, and so for the moment prices do not seem to be affected by the decline in scrap prices, thanks in part to stoppages by some producers, which have stimulated a slight increase in demand.
The situation looks unchanged in the export market as well, where wire rod offers of Italian producers to Algeria are at €460-465/mt ($593-600/mt) FOB. Nevertheless, Algerian demand remains subdued due to the large volumes of material which are already arriving from abroad.
€1 = $1.29