NORTHERN EUROPE WIRE ROD: Mills bullish but market flat; short-term rises very likely

The domestic steel wire rod market in north Europe was largely flat over the week, however, prices should pick up soon amid high offers from producers, higher finished product market levels and limited purchase options at buyers because of quick import quota exhaustion, Fastmarkets heard on April 21.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was €660-690 ($795-831) per tonne on Wednesday, unchanged since March 3.
Although buyers think the 'workable' level is at about €660 per tonne delivered, producers' offers were substantially higher at €690 per tonne delivered.
"ArcelorMittal announced a €30-per-tonne price increase across all long products this week but the market will need time to absorb it," one trader said.

"Benelux customers have wire rod in stock so they can wait a bit to buy new material so the situation in Benelux...


Julia Bolotova

April 21, 2021

15:25 GMT