EUROPE WIRE ROD: Domestic prices stable in quiet market
Prices for domestic wire rod across Europe remained unchanged on Wednesday October 2, with many market participants focusing on the more active rebar sector, sources told Fastmarkets this week.
"Demand for wire rod is not so good, there's not a lot moving. It makes sense to leave it alone [and] wait for a potential recovery," said one Southern European producer, adding that his company had adjusted its output in favor of rebar.
An expectation of lower ferrous scrap prices and, therefore, lower wire rod prices was further undermining demand, sources said.