NORTHERN EUROPE WIRE ROD: Prices stable at high levels due to flat scrap

Domestic steel mesh-quality wire rod prices in Northern Europe were broadly flat over the past week due to stable scrap values and good demand, although producers were said to be mulling another price increase for May bookings, Fastmarkets heard on Wednesday April 7.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was €660-690 ($781-816) per tonne on April 7, unchanged since March 3.
The assessment reflected deals, offers and achievable prices reported by sources over the past week.
The “wire rod market is very stable, despite producers’ constant push for hikes. The key factor is stable scrap... if scrap moves further up in April, some upticks in [wire rod] prices will be possible,” one trader source said.
Sources noted that end-user demand for wire rod across the region was good, and the prospects for the second quarter were also positive.
“The hot period has started, consumption is there and it is only expected to increase in April-June,” a mill source said.

Even though some wire rod...

Published

Julia Bolotova

April 07, 2021

15:51 GMT

Dnipro, Ukraine