Domestic drawing quality wire rod prices have decreased slightly in the Italian market in the past month, softening from €480-490/mt delivered to the current levels of €470-480/mt ($522-533/mt) delivered. Local demand is extremely weak, particularly due to the summer period.
As for the export markets, sources among local producers have told SteelOrbis about ongoing negotiations at prices around €450-460/mt ($500-511/mt) FOB. Meanwhile, the latest ex-Russia and ex-Turkey drawing quality wire rod offers to Italy have been at $495/mt FOB and $505/mt FOB, respectively.
€1 = $1.11