EUROPE WIRE ROD: Prices expected to be stable through April

The European domestic price of mesh-quality wire rod remained flat week on week on Wednesday April 10, with continued price stability expected over the coming weeks, market participants told Fastmarkets.

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...

Published

Viral Shah

April 10, 2019

17:20 GMT

London