Wire rod prices have decreased slightly in Italy in the past month, in line with the trend of local scrap prices. However, they have remained stronger compared to rebar prices, due to better demand and lower supply. "Demand is better and we also enjoy better margins compared to rebar," one long steel producer told SteelOrbis. Local prices were at €650-670/mt delivered for drawing quality wire rod (SAE1006) in late January, while in the past few weeks the range has widened to €640-670/mt. According to sources, prices should remain strong also in the coming period, due to a possible increase in local scrap prices in March, and also due to an expected improvement in buying activities.
Meanwhile, demand is decent in the export market, with Italian producers offering drawing quality wire rod to Germany and other countries in central Europe at €650-660/mt delivered.