According to market sources, domestic drawing quality (SAE1006) wire rod prices in Italy are still in the range of €520-530/mt ($582-594/mt) delivered to customer, stable as compared to the levels recorded one week ago.
However, local producers, in the face of very low demand and their need to sell, are willing to negotiate on prices and are offering discounts especially for large-volume orders. As previously reported, the entry into force of the EU safeguard quotas did not influence the market to the extent that was expected; in particular, local supply still appears sufficient in relation to demand. As for the coming period, local market sources exclude the possibility of significant price increases given the current lack of support from demand.
€1 = $1.12