Prices for mesh-quality wire rod in Europe fell this week following a drop in finished mesh product prices and due to buyer hesitance, sources told Fastmarkets on Wednesday May 15.
Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe fell to ?,?515-535 ($578-600) per tonne delivered on Wednesday, down ?,?10-15 week on week from ?,?525-550 per tonne delivered on May 8. "The price has dropped further as integrated steel mills have lowered their mesh product prices," one European distributor said. "The market trend is the same - demand and wire rod consumption is decent but customers are waiting until the last minute to buy [wire rod and mesh products] so steel mills get nervous with...