According to market sources, Italian
wire rod producers have not been giving any offers to the export markets this week with the approach of the Christmas and New Year holidays. Besides Italian suppliers are waiting for the anticipated increase in demand after the holidays and are planning to revise their prices upwards then. The most recent Italian
wire rod offers to the export markets were in the range of €415-425/mt ($506-519/mt) FOB.
Meanwhile,
wire rod prices in the local Spanish market are currently at €440-450/mt ($537-549/mt) DDP, increasing by €5-10/mt ($6-12/mt) as compared to two weeks ago, while discounts are still available depending on payment terms. On the other hand, Spanish
wire rod offers to the export markets are now in the range of €425-430/mt ($519-525/mt) FOB. Market sources report that demand has been slack in the Spanish
wire rod market due to the imminent Christmas and New Year holidays, though Spanish producers expect demand to start recovering after the holiday and for prices to rise accordingly.
€1 = $1.22