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Italian wire rod prices are declining in line with the general wave of downward price adjustment in the European steel market. Demand continues to be sluggish and both distributors and drawing mills are expecting more price declines in May and June. Quotes from local steelmakers are at €1,100/tonne ($1,263/t), down from last month’s €1,200/t ex-works for drawing-quality material. According to distributors, sales this month are lower than in April. …
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