With import wire rod prices steady but potentially vulnerable to a current antidumping investigation and expectations that US domestic shredded scrap prices could move sideways next month, US domestic wire rod mills have the “advantage” to keep prices firm, according to sources.
This week, US domestic wire rod spot prices are steady in the range of $29.50-$30.50 cwt. ($590-$610/nt or $650-$672/mt) ex-mill, with sources reporting strong mill firmness. While some sources think mills might go so far as to announce another price increase in the near-term, others say the failure of the last two announced price increases might encourage mills to quietly push prices upward on a case-by-case basis instead.