SOUTHERN EUROPE WIRE ROD: Market braces for rises on scrap upturn; prices flat

The steel mesh-quality wire rod price in southern Europe was broadly stable in the week to Wednesday, despite local producers’ push for increases on higher scrap prices, sources told Fastmarkets on March 3.

Fastmarkets assessed the weekly price for steel wire rod (mesh-quality), domestic, delivered Southern Europe at €650-670 ($783-807) per tonne on Wednesday, unchanged from the preceding week.
Italy
In Italy, wire rod prices were largely stable over the assessment week with customers staying in 'wait-and-see' mode, sources said.

“The market is always in 'wait-and-see' mode. The February scrap price slump in Italy confused buyers. We were expecting prices to drop but no trend has reversed. Mills are not ready to decrease their prices for three reasons: good end-user demand, low availability and the rising...

Published

Julia Bolotova

March 03, 2021

17:18 GMT

Dnipro