Italian wire rod prices have lost €20/tonne ($23/t) on average compared to September. There is some market stagnation in a quiet trading environment due to uncertainty, distribution sources tell Kallanish.

Transaction prices that were at €530/t ex-works in September are now at €500-510/t ex-works. Sales volumes are not particularly high as the market remains “…extremely quiet,” sources say.

As scrap prices fall, buyers remain pessimistic regarding the future of their own sales to end-users. Imported wire rod from eastern European countries can be found at slightly cheaper than domestic prices. Export sales at higher prices, however, are said to be rebalancing the slower domestic market for local producers, Kallanish hears.