The domestic Northern Europe steel wire rod price soared over the week to Wednesday December 2, pushed up by long lead times and good buying appetite.
Fastmarkets' weekly price assessment for
steel wire rod (mesh-quality), domestic, delivered Northern Europe rose to ?,?540-550 ($648-660) per tonne on Wednesday, up by ?,?40-50 per tonne from ?,?500 per tonne a week earlier.
The assessment is based on deals, offers and achievable prices heard in the market during the assessment week.
The assessment has exceeded ?,?500 per tonne for the first time since August 2019 to hit the highest level since January 2019, according to Fastmarkets historical data.
Most European mills were said to be sold out even for January rolling material and increasing lead times along with steady consumption caused the price to rise, sources told Fastmarkets.
"Consumption is there,...