Spanish wire rod market maintains soft trend

In the Spanish wire rod market, local and export prices have declined further by €5-10/mt ($7-13/mt) since last week. Spanish mills' wire rod offers for the domestic market are now at €480-485/mt ($629-635/mt) delivered. In the meantime, Spanish mesh quality wire rod export offers are currently at €460-465/mt ($629-635/mt) FOB, while drawing quality wire rod export prices are at €480-485/mt ($629-635/mt) FOB.
 
Market sources indicate that ex-CIS wire rod offers have remained unchanged this week at $590/mt FOB Black Sea, while these offers are expected to decline further and increase the downward pressure on the European wire rod markets.
 
€1 = $1.31