Italian wire rod offers to Algeria have continued to decline. Over the past 10 days, Italian producers have received some requests at €475-480/mt ($613-619/mt) FOB but, according to market sources consulted by SteelOrbis; this level price is too low to be accepted by Italian producers. Only 10 days ago, Italian mills' wire rod export offers stood at €490/mt ($632/mt) FOB.
Concerning the Italian domestic market, mesh quality wire rod prices are approximately at €505/mt ($651/mt) delivered to customer. At the same time, drawing quality wire rod prices - which in the previous week had decreased by €15/mt ($19/mt) - have gone up slightly over the past seven days, reaching €515-520/mt ($664-671/mt) delivered to customer. However, demand in the local market continues to be low and unstable.
€1= $1.29