According to sources, the situation in the Italian domestic wire rod market looks unchanged compared to two weeks ago. Prices for drawing quality low carbon wire rod are still at around €450/mt ($504/mt) delivered to customer. Generally, wire rod demand coming from the automotive and the mechanical sectors is good, while that coming from the construction sector is weak.
Concerning the export market, currently Italian producers are offering mesh quality wire rod at €415-420/mt ($465-470/mt) FOB. Sales have been concluded to alternative markets, as exports to Algeria are still blocked due to the non-release of import licenses in the country. However, sources report that the issue of the import licenses in Algeria may be resolved soon.
€1 = $1.12