According to sources, drawing quality wire rod (SAE1006) prices in the local Italian market have trended sideways in the past two weeks at €530-540/mt ($625-637/mt) delivered to customer. As in the domestic rebar market, the tight availability of products has compensated for the decline in scrap prices, providing support for wire rod prices. Meanwhile, Italian wire rode producers' offers for the export markets are at about €510/mt ($602/mt) FOB.
€1 = $1.18