NORTHERN EUROPE WIRE ROD: Prices inch up, new rises ahead

Steel mesh-quality wire rod prices in the north of Europe have narrowed upward over the past seven days, pushed by strong demand and low availability, with new rises expected in December, sources have told Fastmarkets.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, narrowed to €500 ($593) per tonne on Wednesday November 25, from €490-500 per tonne a week earlier.
The assessment was based on deals, offers and achievable prices reported by market participants over the past week.
A restocking campaign in the region continued into the assessment week, with wire rod buyers struggling to secure tonnages amid persistently tight availability.

“Customers have been very quick to send in [requests for] volumes to ensure they have a place in the production line, even before the price was fixed, being more concerned with securing tonnages,” one...

Published

Julia Bolotova

November 25, 2020

14:31 GMT

Dnipro