NORTHERN EUROPE WIRE ROD: Producers bump up prices on long lead times, scrap uptick

Producers of steel mesh-quality wire rod in the north of Europe achieved higher prices in the week to Wednesday November 18, with their offer prices backed by long lead times and an uptrend in the international scrap trade, sources have told Fastmarkets.

Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, increased to ?,?490-500 ($581-593) per tonne on November 18, up from ?,?485-495 per tonne a week earlier.
The assessment was based on deals, offers and achievable prices reported by market participants over the past week.
Wire rod producers managed to fix new increases in deals, supported by tight availability of material, sources said.
"We are fully booked till end-December," one mill source said.

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