According to sources, drawing quality wire rod (SAE1006) prices in the local Italian market have remained unchanged at €530-540/mt ($615-626/mt) delivered to customer, compared to two weeks ago. Sources indicate that such price levels are in line with global price trends. Local Italian prices are supported by high production costs, as in the local rebar market, while domestic wire rod demand is good. Meanwhile, Italian wire rode producers' offers for the export markets are at about €500/mt ($580/mt) FOB, down €10/mt compared to two weeks ago. According to sources, due to fewer import licenses issued in Algeria compared to last year, the possibilities for wire rod sales have shrunk.
€1 = $1.16