According to market sources, prices for drawing quality low carbon wire rod in the local Italian market have increased by €70-80/mt compared to one month and a half ago, rising to €520-530/mt ($624-636/mt) delivered to customer.
Market sources said that this price level in local Italian wire rod market is in line with the one recorded in the European market. Demand in the local Italian wire rod market is good, while the availability of wire rod is scarce, as it is in the Italian rebar market. According to sources, domestic wire rod prices in Italy should increase further in the coming period. A few market sources, though, pointed out that they will not increase significantly unless import offers (i.e., offers coming from Turkey and Russia) don't move up as well.
€1 = $1.20