EUROPE WIRE ROD: Producers preparing price rises in August

Domestic prices for mesh-quality steel wire rod in Europe have been largely stable over the past week, but producers were considering a substantial increase in August, citing improving demand, sources told Fastmarkets on Wednesday July 22.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was €425-440 ($488-505) per tonne on July 22, stable week on week.
The assessment was based on deals and offers heard in the market.
A “workable” price for mesh-quality wire rod was estimated by Italian buyers to be €430-440 per tonne, the same as last week.
But some producers in Italy were determined to achieve higher prices of around €450 per tonne delivered, Fastmarkets heard.
“We are still intent on getting €450 [per tonne delivered]. At that price we would not get the same volumes, but for us this is okay,” one source said.
Buying activity in Italy was moderate, with trading companies largely preferring to book small tonnages.
The construction sector was performing well, but still at a level below that seen before the Covid-19 pandemic.

“The construction industry is working, but not so well....


Julia Bolotova

July 22, 2020

16:15 GMT