SteelOrbis has learned from market sources that in the Italian market local prices of drawing quality wire rod are still at €455-465/mt ($519-530/mt) delivered. Currently, there is a lot of material imported from Ukraine, Russia, Turkey and South Korea available in the Italian market. Large volumes have already arrived and more will arrive in the coming period, according to sources. Prices of import material are slightly below local prices, i.e., in the range of €445-450/mt ($507-513/mt) delivered, but ordering material from foreign suppliers always includes a risk that not every buyer is willing to take.
In general, in the Italian market wire rod supply is good, while demand is low. According to a representative of one Italian wire rod producer, players in the Italian steel market are expecting price decreases in the coming period, but such decreases will likely be smaller than expected.
Meanwhile, Italian wire rod offers to the export markets have been standing at levels of €420-425/mt ($478-485/mt) FOB this week, i.e., €10/mt ($11/mt) higher compared to rebar offers.
€1 = $1.14