EUROPE WIRE ROD: Importers raise quota-system concerns; domestic prices stable

The European domestic price of mesh-quality wire rod remained flat week on week, while European imports prices held steady amid concerns regarding tariff-quota monitoring, market participants told Fastmarkets on Wednesday April 3.

Fastmarkets’ weekly domestic price assessment for mesh-quality wire rod in Northern Europe was at €535-550 ($599-616) per tonne delivered on Wednesday, unchanged week on week. Wire rod in Northern Europe is trading at parity with its counterpart price in Southern Europe, where Fastmarkets assessment of the EU domestic mesh-quality wire rod price in Southern Europe was also trading at €535-550 per tonne on April 3, also stable week on week. Prices are expected to remain largely stable over the course of the month, one trader in Northern Europe said. Most business should take place around a price level of €535-540 per tonne delivered, although smaller volumes could be transacted at €550 per tonne, the trader added. “Customers are waiting before deciding to buy so it’s a gradual process to fill the order book over the month,” one European producer source said. “However there is no shortage of material because...

Published

Viral Shah

April 03, 2019

18:15 GMT

London