Compared to late May, the range of drawing quality wire rod (SAE 1006) prices has increased in the Italian domestic market, from €515/mt to €505-515/mt ($571-582/mt) delivered. Demand is a bit slack, both in the domestic market and for imports. Although some import offers have interesting prices, buyers are reluctant to place large orders as they think the new safeguard quota will be exhausted quickly.
According to rumors, the quota may have already been consumed completely. Turkish origin non-alloy wire rod has an allocation of 312,081 mt within the scope of the new EU import quota period beginning on July 1 and lasting until June 30, 2020, while Russia and Ukraine have quotas of 316,074 mt and 383,273 mt, respectively.
€1 = $1.13