EUROPE WIRE ROD: Market activity picks up despite seasonal slowdown

Domestic prices for steel mesh-quality wire rod in Europe have been broadly stable in the North of the region and narrowed slightly upward in the South on higher offers from mills, with market participants expecting no decreases in the coming weeks, sources told Fastmarkets on Wednesday July 8.

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.
Italy
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...

Published

Julia Bolotova

July 08, 2020

16:50 GMT

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