SteelOrbis has learned from market sources that Spanish domestic wire rod prices are now standing at €460-465/mt ($630-637/mt) for deliveries to customer, declining by €25/mt ($34/mt) over the past two weeks.
In the meantime, Spanish export offers for mesh quality and drawing quality wire rods have moved down by €10/mt ($14/mt) to €460-465/mt ($630-637/mt) FOB and €475-480/mt ($651-658/mt) FOB respectively.
Market sources report that since prices continue to soften buyers in the local market prefer to conclude deals in line with their needs for small volumes and so demand is still sluggish, while activity on the export side is slow.
€1 = $1.37