EUROPE WIRE ROD: Prices hold amid increased scrap costs

Prices for steel mesh-quality wire rod in Europe were largely unchanged this week with trading activity remaining thin, especially in the south, sources told Fastmarkets on Wednesday May 20.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was €420-450 ($459-492) per tonne on Wednesday, stable over the past seven days.
The assessment was based on deals and offers heard in the market this week.
Italy’s market remained quiet this week, sources said.
“Just as last week, demand is weak [and there are] no signs of recovery at the moment. It will take some time,” one source said.
The construction industry, one of the main consuming sectors for mesh-quality wire rod, was recovering slowly with most construction sites still working at half-capacity.


Julia Bolotova

May 20, 2020

14:29 GMT