The European wire rod market was quiet in the week to Wednesday August 19 amid the traditional summer slowdown, while market participants were expecting prices to rise in September, pushed upward by costlier scrap and increased buying activity, sources told Fastmarkets.
Southern Europe
Fastmarkets' weekly price assessment for
steel wire rod (mesh-quality), domestic, delivered Southern Europe, remained unchanged at ?,?430-440 ($512-524) per tonne on August 19.
In Spain, buying activity was reported to be moderate over the assessment week, with buyers mainly focused on hand-to-mouth business.
"No one is daring to build stocks, given the market volatility," one buyer said.
In Spain, mesh-quality wire rod was trading at ?,?430-440 per tonne delivered in the week to August 19, unchanged over the past seven days, Fastmarkets heard.
But sources...