According to sources, local transaction prices for drawing grade wire rod are quoted at €610/tonne ($665/t) ex-works and €620/t for mesh grade wire rod.
Producers demand an average ex-works price of €620/t for wire rod in wire mesh grade.
A market participant noted that European scrap values have decreased due to low demand, which has affected the wire rod market.
German scrap prices have decreased so far in June due to low demand. Old thick scrap type 3 is at €330/t, while new scrap type 2/8 is at €325/t. E40 shredded scrap was at €330/t. In Austria, scrap prices for old thick scrap type 3 decreased to €340/t, while new scrap type 2/8 was quoted at €345/t.
Meanwhile, a slight restocking is expected for Italian wire rod in July with mostly stable prices compared to end-June. Local values are standing at €570-580/t for tensile grade material.
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