Northern European wire rod prices have experienced a slight decline amid weak demand and high energy costs. Market participants report that activity remains subdued, with drawing mills not restocking significantly. Domestic transaction prices for drawing-quality wire rod are currently around €650 per tonne, while mesh-grade wire rod is priced at approximately €660 per tonne. Producers are asking for about €680 per tonne for mesh-quality rod, but the market has not fully accepted these prices.
The wire rod market has been influenced by weak rebar prices and expectations of falling scrap prices. Despite these challenges, imports from outside the EU, such as Algeria and Egypt, have not significantly impacted the European wire rod market. Offers from these regions are considered uncompetitive by European buyers. As the market continues to navigate these conditions, participants remain cautious about future price movements.
