Domestic steel wire rod prices in the north of Europe were firm despite buyers' push for discounts, supported on good order books at mills, high scrap values and limited imports, Fastmarkets heard on March 24.
Fastmarkets' weekly price assessment for
steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?660-690 ($785-820) per tonne on Wednesday, stable for the past three weeks.
One source reported a deal done at ?,?700 per tonne delivered for April-delivery wire rod, however, the price was not included in the assessment because it was not widely confirmed by other market participants.
Despite sources reporting difficulty passing higher wire rod prices downstream, producers intend to keep prices firm, sources said.
"We are well-booked, there is no rush," a mill source told Fastmarkets.