Italian wire rod export offers close to hitting bottom

Tuesday, 02 October 2012 11:14:49 (GMT+3)   |  
       

Italian wire rod offers are down by €10/mt ($13/mt) compared to last week, declining to €490/mt ($632/mt) FOB. Over the past seven days the volume of inquiries from Algeria has increased slightly, but no bookings have been concluded yet. Before buyers, traders want to make sure that prices have bottomed out. The general consensus is that Italian wire rod export prices are now close to the bottom.

In the domestic market, meanwhile, drawn-quality wire rod prices are in the range of €510-515/mt ($658-664/mt) delivered to customer, down €15/mt ($19/mt) compared to a week ago. However, there is some confusion about price levels, while local demand continues to be low.

€1 = $1.29


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