According to sources, Egyptian export offers for drawing quality wire rod (SAE1006) are at $555-560/mt FOB. This price is equal to approximately $580-585/mt CFR northern Italy port, for March shipments.
The same sources say that Italian buyers show no interest in these offers as current Italian domestic wire rod prices are more attractive. Things could change in the coming period as Italian wire rod producers are targeting an increase in their domestic wire rod prices.