NORTHERN EUROPE WIRE ROD: Producers hold back offers, sentiment upbeat

Steel wire rod producers in the north of Europe have largely sold outof June-rolling material and have yet to announce offers for July, while buyers expect prices to rise sharply due to persistent material shortage, limited and expensive imports, Fastmarkets heard on Wednesday May 19

Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?800 ($976) per tonne on Wednesday, up from ?,?720-750 per tonne the week before. This reflected deals and achievable prices reported by market participants over the assessment period.
Firm offers were still scarce in the market because producers have mostly sold out of June material and have adopted a wait-and-see mode.

Several deals were reported at ?,?800 per tonne delivered this week in Germany...

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