Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe
, was €425-440 ($480-497) per tonne on Wednesday, narrowing upward from €420-440 per tonne on July 1.
The assessment was based on deals and offers heard in the market.
The workable price for wire rod in Italy was said to be about €435-440 per tonne delivered, slightly below mills’ target level but up by €5-10 per tonne over the past seven days, sources said.
“The price for mesh-quality wire rod has stabilized in Italy at €435-440 [per tonne], but at the end of June the goal was to sell for at least €450 [per tonne] delivered, which has not been accepted by the market so far,” one producer told Fastmarkets.
Demand for mesh-quality wire rod in Italy was moderate this week, supported by increasing levels of construction activity.
“Construction is moving, not...