Latest situation in European wire rod market

Thursday, 11 December 2014 11:53:32 (GMT+3)   |   Istanbul
       

According to market sources, Italian wire rod offers to the export markets are currently in the range of €415-425/mt ($515-527/mt) FOB. Market sources state that demand is slack for the Italian wire rod exports, with only low volume sales to the Algerian market being observed.
 
Meanwhile, wire rod prices in the local Spanish market are currently at €440/mt ($546/mt) DDP, while discounts of up to two percent are available for advance payments. On the other hand, Spanish wire rod offers to the export markets are now in the range of €425-430/mt ($527-533/mt) FOB.
 
Market sources report that transaction activities have been slack in the European wire rod market since the beginning of December due to approaching Christmas and New Year holidays. However, European producers' order books are full for the period after the holiday. As a result, there are strong expectations that wire rod prices will increase in the New Year.
 
€1 = $1.24
 


Similar articles

Wire rod consumption in Mexico increases 6.5 percent in January

28 Mar | Steel News

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

UAE-based ESA cuts wire rod prices for April despite better demand

28 Mar | Longs and Billet

Asian wire rod market tumbles amid pessimism in China

28 Mar | Longs and Billet

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Local Turkish official domestic wire rod prices follow diverse trends

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News