According to market sources, local Italian drawing quality wire rod prices are still at the level of €550/mt (638$/mt) delivered to customer after increasing in the first half of July due to expectations relating to the results of the EU Commission safeguard investigation on steel imports. Local demand is now at normal levels, i.e., in line with the same period of previous years. According to the market sources, the EU import quota of 1,058,110 metric tons for wire rod - valid for 200 days starting from July 19 - should be sufficient at least up to the end of this year. The safeguard measures should provide support for wire rod prices in Italy and the EU in the coming period.
€1 = $1.16