The stability observed in the Spanish domestic wire rod market in the past two weeks has been replaced by an upward price trend this week. Accordingly, Spanish domestic mesh quality wire rod prices have risen by €10/mt ($13/mt) over the past two weeks, reaching €470-480/mt ($609-622/mt), while drawing quality wire rod prices have increased by €5/mt ($7/mt) to €485-495/mt ($629-642/mt), both for deliveries to customer.
On the other hand, Spanish suppliers' wire rod export offers have also switched to an uptrend, with mesh and drawing quality wire rod prices climbing to €450-455/mt ($583-590/mt) FOB and €470-475/mt ($609-616/mt) FOB respectively, after a price increase of €15/mt ($19/mt). Market sources state that Spanish wire rod export sales have gained some momentum lately and this is expected to continue in the coming period.
€1 = $1.296