NORTHERN EUROPE WIRE ROD: Buyers hold back in expectation of lower prices

The domestic steel wire rod market in Northern Europe was quiet in the week to Wednesday September 15, with buyers expecting prices to decline in line with weakening scrap values and lower-cost imports.

Producers, however, were in no hurry to drop their offer prices, sources told Fastmarkets on Wednesday.
Fastmarkets' weekly price assessment for steel wire rod (mesh-quality) domestic, delivered Northern Europe was ?,?880-900 ($1,040-1,063) per tonne on Wednesday, narrowing down from ?,?880-910 per tonne seven days ago.
The assessment was a reflection of deals, offers and achievable prices reported by market participants over the past week.

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