NORTHERN EUROPE WIRE ROD: Prices jump on shortage, bullish scrap

Domestic prices for steel mesh-quality wire rod in the north of Europe unexpectedly surged in the week to Wednesday January 13, amid sharp increases in feedstock costs and persistent supply tightness, sources told Fastmarkets.

Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe rose by ?,?45-70 per tonne, to ?,?675-700 ($821-851) per tonne delivered on Wednesday, compared to ?,?630 per tonne a week earlier - it is now at its highest since August 2008.
The assessment reflected offers, deals and achievable prices reported by market participants over the past seven days.

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