SteelOrbis has learned that domestic prices of drawing quality wire rod in Italy are currently at €430-450/mt ($456-477/mt) delivered to customer, indicating a €20/mt increase compared to the price levels recorded one week ago. This upward movement in domestic wire rod prices is due to increased scrap quotations and low availability of wire rod because producers prefer not to offer large quantities while trying to understand the international market trend. However, Italian buyers prefer to meet their needs from the domestic market since the gap between import and domestic wire rod offers is narrow. Also, market sources state that, as domestic wire rod prices are expected to decline further early next year, this gap is likely to disappear; and so Italian buyers are unwilling to take a risk by concluding import wire rod deals.