The price of mesh-quality wire rod in Europe was unchanged week on week, with market participants expecting price stability to continue into the summer holiday period, sources told Fastmarkets on Wednesday July 3.
Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?500-510 ($564-575) per tonne delivered on Wednesday, unchanged from June 26."We expect that the market price will continue at this level because the [benchmark] Turkish import scrap price is up, and EU scrap prices are stabilizing now," one European buyer said.Ferrous scrap is a key raw material in wire rod production."We are now entering the holidays, with good wire rod consumption. The European mills were dreaming of higher volumes [of bookings]...