The wire rod market in the EU remains low in terms of demand but rather active in terms of the number of offers. The domestic end-user activity has remained quite low, which makes some of the mills offer to the neighboring countries. The local prices are under pressure, which is also coming from the competitive import offers.
In the import segment, there are active offers for the origins, not included in the EU quota system. In particular, the export offers from Algeria are at $690-710/mt FOB depending on the mill, which is around $740-760/mt CFR to the southern part of the EU. Egyptian mills are targeting $700-715/mt FOB or around $730-740/mt CFR, particularly to Romania. Offers from Asia are more competitive in terms of price, but the lead time is not advantageous. Indonesia is offering $655/mt CFR to Europe, while Malaysia is at around $655-665/mt CFR ($565/mt FOB), SteelOrbis has learned. Offers from Ukraine are at €810-820/mt CPT Poland.
In the local EU market, the intra-country offering has intensified. According to sources, Poland is offering to Italy at €820-830/mt DDP and to Lithuania at €800/mt delivered. Italy itself offered €820-830/mt CPT to Poland and around €780/mt to the Balkans, SteelOrbis has learned.
The domestic wire rod prices in Poland are at €870-880/mt CPT, while in Italy the offers are at €910-930/mt CPT for SAE 1006 quality.
