SOUTHERN EUROPE WIRE ROD: Producers eye higher May prices on supply shortage

Steel wire rod producers in Southern Europe have announced higher prices for May-production wire rod, citing short supply and good demand, while buyers were likely to accept higher prices because of the lack of import options, sources told Fastmarkets on Wednesday April 21.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was €660-680 ($795-819) per tonne on Wednesday, widening upward by €10 per tonne over the past week.
The assessment was based on deals and achievable prices reported by market participants over the past seven days.
Two offers from Italian mills were heard at prices of €690-700 per tonne delivered, but these were not included in the assessment because such prices were not considered workable by buyers for now.
Market sources were not ruling out transaction prices rising to the offer levels in May, however, considering the shortages and lack of imports.

“Producers have...

Published

Julia Bolotova

April 21, 2021

13:33 GMT

Dnipro