Deals becoming more available in under-pressure US wire rod market

Wednesday, 22 February 2012 02:44:34 (GMT+3)   |  

With the promise of a potentially sideways trend for scrap next month, US wire rod mills are still holding tight to current spot prices in the range of $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) ex-mill--unchanged from last week.  However, increasing pressure from customers over the lack of response to February's $25-$30/long ton drop in shredded scrap prices has led some mills to offer quiet deals to certain customers.  Sources tell SteelOrbis that in general, such deals are not for more than $1.00 cwt. ($22/mt or $20/nt) less than the general spot range, but with demand for wire rod not exactly spectacular at the moment, and the slim possibility that scrap prices could come down slightly next month (if export prices don't pick up), US mills might have to extend their deals to a wider swath of their customer base sooner rather than later.

As for imports, the power shortage situation in Turkey proved to not be as dire as assumed, although wire rod offer prices to the US have remained up.  US traders are still offering--and booking--wire rod in the range of $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt) DDP loaded truck in US Gulf ports, reflecting no change in the last week, and with scrap prices stable in Turkey for the time being, wire rod prices for domestic and export consumption are not expected to change in the next week or so.


Similar articles

Import wire rod offers to the US

11 Oct | Longs and Billet

Notable rebar, wire rod, pipe and plate shipments into the US, Sept. 27-Oct. 3

11 Oct | Steel Matters

Partial price decrease predicted for US wire rod market

10 Oct | Longs and Billet

Import wire rod offers to the US

04 Oct | Longs and Billet

Notable rebar, wire rod, pipe and plate shipments into the US, Sept. 20-26

04 Oct | Steel Matters

US wire rod market shows cracks in price resolve

03 Oct | Longs and Billet

US wire rod import market shows mixed trend

26 Sep | Longs and Billet

Import wire rod offers to the US

20 Sep | Longs and Billet

US wire rod mills aim for neutral price trend

19 Sep | Longs and Billet

Import wire rod offers to the US

13 Sep | Longs and Billet

Marketplace Offers

Wire Rod
Diameter:  1.3 - 2.2 mm
SIDIROSTAL SA
Wire Rod
Diameter:  5 - 12 mm
KHALIFA STEEL INDUSTRIES WLL
Wire Rod
Diameter:  5.5 - 16 mm
CONARES METAL SUPPLY