The steel mesh-quality wire rod price in southern Europe was broadly stable in the week to Wednesday, despite local producers' push for increases on higher scrap prices, sources told Fastmarkets on March 3.
Fastmarkets assessed the weekly price for steel wire rod (mesh-quality), domestic, delivered Southern Europe at ?,?650-670 ($783-807) per tonne on Wednesday, unchanged from the preceding week."The market is always in 'wait-and-see' mode. The February scrap price slump in Italy confused buyers. We were expecting prices to drop but no trend has reversed. Mills are not ready to decrease their prices for three reasons: good end-user demand, low availability and the rising...