NORTHERN EUROPE WIRE ROD: Market flat on offer-bid mismatch, but mills remain bullish

The market for steel wire rod in the north of Europe was largely unchanged over the past week on the disparity between producers’ offers and bids from buyers, while market sources expected price increases to be achieved in May because of the limited availability of material, Fastmarkets heard on Wednesday April 28.

Fastmarkets’ weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was €660-680 ($797-821) per tonne on Wednesday, narrowing downward from €660-690 per tonne last week.
Buyers estimated the “workable” price from mills at €660 per tonne delivered, citing difficulties passing on higher prices downstream.
At the same time, official offers from European mills were in the range of €680-700 per tonne delivered, Fastmarkets heard.

“The situation is very complicated....

Published

Julia Bolotova

April 28, 2021

16:56 GMT

Dnipro