The price range for domestic mesh-quality wire rod produced and delivered in Southern Europe has widened downward by ?,?10 per tonne week on week, with mills reducing their offers, market participants told Fastmarkets on Wednesday April 17.
Fastmarkets' assessment of the EU domestic mesh-quality wire rod price in Southern Europe was ?,?525-550 ($593-621) per tonne on April 17, down from ?,?535-550 per tonne delivered on April 10.Fastmarkets also heard reports of even lower offers for mesh-quality wire rod from an Italian mill at ?,?505-510 per tonne delivered."The price has weakened a little because European mills seem to have planned too much production, not because of demand," one European distributor said.The level of demand in the market was "only good, not great," he added.Domestic monthly scrap settlements in Italy also lowered from March values, market sources told Fastmarkets.The...