In Italy, local wire rod prices have increased by €22.5/mt on average compared to early August, reaching €450-455/mt delivered to customer. The price level refers to drawing quality wire rod (SAE1006). According to market sources, wire rod supply in the market is relatively low currently, with local mills holding low wire rod stocks. This, along with the predicted increase of local scrap prices in September, has allowed local wire rod producers to obtain higher prices in the past few weeks. Moreover, as reported previously by SteelOrbis, Italian long steel producers are aiming to increase their profit margin after a few months in which they favored larger volumes in spite of profitable prices.