SteelOrbis has learned that in the Italian market drawing quality wire rod offers are at €520-525/mt ($655-662/mt) delivered to customer, excluding VAT, compared to €520-530/mt ($655-668/mt) last week. At the same time, mesh quality wire rod is offered at €510/mt ($643/mt), but sources say this is a virtual price, as there are no transactions.
On the export side, Italian suppliers are offering mesh quality wire rod at €490-500/mt ($617-630/mt) FOB, which is €10-20/mt ($13-25/mt) lower than a week ago. Export activities have slowed down significantly as Ramadan is approaching and as the stocks of Algerian customers are at high levels.
€1 = $1.26