According to market sources, domestic drawing quality (SAE1006) wire rod prices in Italy are now at €530-540/mt ($599-610/mt) delivered to customer, up €5/mt on average compared to one week ago.
Although demand in the local Italian wire rod market is still slack, local producers have hinted at imminent price increases mainly due to two factors: the ongoing increase in domestic scrap prices and the fact that the EU safeguard quota for wire rod imports for the February 2-June 30 period will likely be consumed very quickly. As a result, local producers are expected to be in a stronger position.
€1 = $1.13