SteelOrbis has learned that wire rod offers in the Italian domestic market have decreased slightly in the last two weeks. Drawing quality wire rod prices have decreased by €5/mt ($6/mt) in the period in question to €515-520/mt ($623-629/mt), delivered to customer.
With regard to mesh quality wire rod prices, imported material is currently offered at €490/mt ($593/mt) delivered to customer. The price is for delivery by truck, with volumes for delivery by ship practically nonexistent.
Given economic difficulties and the approaching summer holidays in southern Europe, wire rod demand is very weak and trading volumes are low.
Meanwhile, on the export side, mesh quality wire rod prices have remained stable at €490-500/mt ($593-605/mt) FOB. Nevertheless, there are very few offers, in particular due to the quietness in the market caused by Ramadan, which began on July 20.
€1 = $ 1.21