Italian producers' domestic offers for drawing quality wire rod have moved up by an average of $25/mt during the past week to €480/mt ($514/mt) delivered to customer, excluding 22 percent VAT, for April delivery. While local demand is not strong, the uptrend in prices is due to the recent increases in domestic scrap prices. According to market sources, import wire rod offers are still uncompetitive.
€1 = $1.07