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...