The trend of wire rod prices remains the strongest of all long steel products in the Italian market. Local producers are offering drawing quality wire rod (SAE1006) at €480-490/mt delivered in northern Italy, unchanged compared to October 12. However, they are now targeting a €10/mt increase for the coming month, according to sources.
The strong trend in the Italian wire rod market continues to be mainly due to a lack of supply, and also to decent demand and reduced imports. The manager of a domestic steelmaker told SteelOrbis that local mills are fully booked for the month of November.
According to the latest data published by Federacciai, in the first eight months of this year Italy imported 127,000 mt of wire rod from non-EU countries, i.e., 18.1 percent less than in the same period of 2019.