SteelOrbis has learned that Italian wire rod prices have remained unchanged compared to last week. Accordingly, in the domestic market drawing quality wire rod offers are at €520-525/mt ($634-640/mt) delivered to customer, excluding VAT. At the same time, mesh quality wire rod is offered at €510/mt ($622/mt), though this is still a virtual price, as there are no transactions. In general, the Italian wire rod market is still characterized by scarce transaction volumes and low demand.
On the export side, Italian suppliers continue to offer mesh quality wire rod at €490-500/mt ($598-610/mt) FOB, which is the same price level as seen last week. However, Ramadan is about to begin and Algerian customers hold large inventories.
€1 = $1.22