The price of mesh-quality steel wire rod in Europe was unchanged this week amid a quiet market, with buying being limited by the effects of the Covid-19 pandemic, sources told Fastmarkets on Wednesday April 15.
This week in Northern Europe, trading was reported to be slow, with demand from end-users diminished by the quarantine measures that have been imposed.
Fastmarkets' weekly price assessment for
steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?450-470 ($493-515) per tonne on April 15, unchanged week on week.
"Consumption slowed down, and production slowed down. Mills are working at about 30% of their capacities, so supply and demand are in balance," one trader said.
The uncertain trend in the market for ferrous scrap, the key raw material for wire rod production, had clouded the outlook for the wire rod sector.