EUROPE WIRE ROD: Prices stabilize; producers eye October hikes

Domestic wire rod prices in Europe were unchanged in the week to Wednesday September 16, but producers will be pushing for hikes in October on good demand, limited imports and to offset rising production costs, sources said this week.

Southern Europe
Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was unchanged at €450-470 ($535-559) per tonne on September 16.
In Italy, buying activity continued to be good over the past week, driven by strong construction and restocking activity.
“Inventory levels are generally low [and] now that buyers [understand] that the price won't be going down, they make bookings,” a buyer said
A second buyer said: “Italian mills have very low stocks of wire rod... imports are [scarce] and are absolutely uncompetitive, so the availability [of wire rod] is tight.”
He added, that, after coming through the Covid-19 pandemic restrictions, the wire rod market was, at last, “seeing the light.”

Wire rod was trading at €450-460 per tonne delivered this week in Italy, unchanged from...

Published

Julia Bolotova

September 16, 2020

15:51 GMT

Dnipro