Fastmarkets’ weekly domestic price assessment for mesh-quality wire rod in Northern Europe was unchanged at €535-550 ($603-620) per tonne delivered on Wednesday.
“We have filled our order books for the month – construction [sector] demand looks okay,” one European producer source said.
“We were hoping there could be a price increase due to higher iron ore and coking coal costs, but ferrous scrap prices have weakened recently,” he added.
Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) was calculated at $301.89 per tonne cfr Turkey on April 10, down from $309.06 per tonne cfr Turkey on April 3.
Other market participants were complaining about a margin squeeze.
“Finished mesh-product prices are currently...