US wire rod market still in a slump

Thursday, 29 September 2016 01:04:23 (GMT+3)   |   San Diego
       

Rumors of a possible price decrease in the US domestic wire rod market are still floating this week, but that possibility is reportedly not having much influence on purchasing activity. Demand is still lackluster, and sources tell SteelOrbis that even if there is a decrease announced, a surge in orders at lower prices is not expected.
 
For now, spot prices are stagnant in the range of $25.00-$26.00 cwt. ($500-$520/nt or $550-$572/mt) ex-mill, but one developing trend is clear, according to sources: deals available overall, both within the range for smaller customers and below the range for larger customers, are becoming widespread enough to possible move the proverbial needle downward in the coming weeks, regardless of whether mills “make it official.”

Similar articles

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Local Turkish official domestic wire rod prices follow diverse trends

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Local wire rod quotations in Indian market - week 13, 2024

26 Mar | Longs and Billet

Local Chinese longs prices up $7-8/mt amid improved demand

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Lebanese rebar market quiet while import prices drop

22 Mar | Longs and Billet