Italian producers' drawing quality
wire rod prices for their local market have moved down by €10-15/mt ($11-17/mt) since the beginning of October and are now standing at €360-365/mt ($396-402/mt) delivered to the customer.
This downtrend is due to the slowdown of local demand during the last month after the sufficient volumes registered in June and July.
Also, the recent acquisitions made by important local producers that decided to integrate themselves in the downstream sector seem to have had an influence on prices.
In the meantime, the possible price support provided by the absence of interesting import offers is balanced by the halting of
wire rod imports in Algeria which represents a significant market for Italian producers.
€1 = $1.10