EUROPE WIRE ROD: Prices widen in north, stable in south

Domestic prices for steel mesh-quality wire rod in Europe were largely unchanged in most regions over the past week, supported by improving demand, sources told Fastmarkets on Wednesday July 1.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, remained at €420-440 ($472-494) per tonne on Wednesday, stable week on week.
The assessment was based on deals and offers heard in the market.
Italy
The “workable” price for wire rod in Italy was said to be about €425-430 per tonne delivered, largely stable over the past seven days, sources said.
“Demand is improving, supported by stronger construction [sector demand]. We are not at pre-corona[virus] levels yet, but still it is quite okay,” one source said.
Sources believed that this year Italian mills would not take their usual summer holiday breaks in August, given the amount of lockdown-related downtime earlier this year.

“We already stalled in March, [and] we have to produce and make money,” one producer said. “I believe that the stoppage will be shorter in August...

Published

Julia Bolotova

July 01, 2020

19:25 GMT

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