The price level of mesh quality wire rod in the Iberian Peninsula is at €530-535/mt ($774-782/mt) delivered to warehouse for 30-day deferred payment, excluding VAT.
Mesh quality wire rods were sold in the Iberian Peninsula at the price level in question last week. However, the Spanish producers have this week been pushing for €550/mt ($804/mt) delivered to warehouse, excluding VAT.
A tightening of wire rod supply has been observed in the region in question due to the strength of the rebar market in the Iberian Peninsula and the fact that wire rod producers have been focusing on producing rebars instead of wire rods.