According to sources, drawing quality wire rod (SAE1006) prices in the local Italian market have increased by €10/mt in the past two weeks to €530-540/mt ($625-637/mt) delivered to customer. Market sources said that this increase is due to the fact that domestic scrap prices have not indicated significant declines so far, while production costs have remained high due to the increase in the cost of electrodes. Meanwhile, the number of import offers is negligible, while Italian wire rode producers' offers for the export markets are at about €510/mt ($602/mt) FOB.
€1 = $1.18