According to market sources, wire rod prices in the local Spanish market are this week at €440/mt ($497/mt) delivered. On the other hand, wire rod offers from Spain to export markets are in the range of $410-430/mt FOB, depending on buyers and order sizes.
Market sources state that the weakening of scrap prices has impacted both the local Spanish wire rod market as well as the export markets, while local and foreign buyers are not interested in concluding transactions for now due to the downward trend in the global steel markets, preferring to adopt a wait-and-see stance.
€1 = $1.13