Steel wire rod producers in Southern Europe were largely staying away from the market and holding back new offers, while scarce deals were heard done at substantially higher prices during the week amid a surge in the scrap and global long steel markets, Fastmarkets heard on Wednesday May 12.
Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was at ?,?720-750 ($872-908) per tonne on May 12, up from ?,?670-690 per tonne delivered one week earlier.Italian producers were said to have suspended sales while they await a clearer picture of where...