Demand is decent and price increases are foreseen in the local Italian wire rod market. In the past month and a half, domestic drawing quality wire rod prices decreased by about €10/mt due to lower demand to €515/mt ($572/mt) delivered to customer.
The situation has changed according to market sources, since local buyers, who had reduced their purchases after buying a lot in January and February, now need to restock. This reason, along with the ongoing increases in international raw material and steel prices, is why market sources expect Italian wire rod prices producers to increase their prices in the coming weeks.
€1 = $1.11