The domestic wire rod business has been generally slow across the EU and some suppliers have opted to decrease their offers from the levels in early September in order to spur sales. In addition, it has been rather crowded in the import wire rod market in some regions of Europe, but sellers have also been decreasing their prices due to low trade.
In Poland, domestic wire rod offers have declined by around €20-25/mt over the past week to €930-950/mt CPT, while import offers from Ukraine are at $820-850/mt CPT depending on the producer. The Czech Republic is in the market with €840-860/mt CPT, while Italy has been offering at €930/mt CPT and earlier offers €20-30/mt higher were available. Algeria offered €810-820/mt CFR to Poland for 2,000-3,000 mt lots, €20/mt down over the past week.
Algeria’s offer for the Baltic region of the EU stands at around €770/mt CFR for large lots and up to €820/mt CFR for smaller cargoes. In the southern part of the EU, ex-Algeria offers are at €750-760/mt CFR due to the lower freight rates. In addition to Algeria, European buyers have been receiving offers from Asia. Wire rod prices from Indonesia have been heard at around €670/mt CFR, while Vietnam has offered at €675/mt CFR, SteelOrbis has learned.
