In the Italian domestic wire rod market, demand is on the sluggish side and transactions are scarce. Similar to the situation in the local rebar market, the improving weather conditions have resulted in a slight rise in trading activity compared to last week; however, no one is talking about a real recovery.
Local quotations of mesh quality wire rod have reached €530/mt ($705/mt) ex-works, but sales of this product are almost nonexistent. Meanwhile, average drawing quality wire rod prices in Italy stand at €550/mt ($732/mt), though it is not difficult to find lower offers.
On the export side, Italian mesh quality wire rod offers are at €510/mt ($678/mt) FOB and drawing quality wire rod export offers stand at €520/mt ($692/mt). The mesh quality wire rod offer level has gained some acceptance but requests are scarce.
Finally, ex-Turkey import offers are standing at $700/mt FOB and ex-CIS import offers are at $670/mt, both for April deliveries.
€1 = $ 1.33