SteelOrbis has heard from market sources that in the Italian market local prices of drawing quality wire rod are currently at €455-465/mt ($563-581/mt) delivered. Any price decreases have been prevented by the suspension of production at Riva's mill in Verona in northern Italy, which began at the beginning of November and will continue until February or March next year. Only shipments of stocks and the receipt of raw material deliveries are still being performed at the mill. Sources have said that local buyers are concerned they will lack supplies for the month of January. As a result, domestic wire rod prices should remain stable in the coming period.
€1 = $1.25