Demand for US domestic wire rod remains steady but lackluster, and although imports are still not much of a competing factor at the moment, sources say US domestic wire rod spot prices are vulnerable to softening. Even with early predictions of another sideways US scrap trend next month, sources tell SteelOrbis that mills are still largely competing with themselves, giving buyers leverage when booking orders.
Although the general spot price range for US wire rod is still unchanged, sources say few are booking orders at the higher end of the $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) FOB mill range.