SteelOrbis has learned from market sources that in the Italian market local producers' domestic wire rod prices are still at €450-465/mt delivered, remaining stable compared to three weeks ago. Local demand is at normal levels - customers are buying as usual, with no particular increases in transaction volumes. Sources said that, unlike rebar prices, which increased in the past few weeks, local wire rod prices have trended sideways because they were already at high levels. According to market sources, a similar sideways trend for wire rod prices in observed in the rest of Europe.
Meanwhile, Italian producers are offering wire rod to Algeria at €430/mt FOB and they are receiving orders at this price level.
€1 = $1.12