Although US domestic scrap prices increased this month and early speculation points to another uptrend in September, sources tell SteelOrbis that US domestic wire rod prices are not expected to benefit from the scrap trend.
Deals are still reported beneath the general US wire rod spot price range of $25.50-$27.00 cwt. ($562-$595/mt or $510-$540/nt) ex-mill—unchanged in the last week—and though some sources think US domestic wire rod mills might try to announce a scrap-related price increase next month, it “won’t go anywhere” if it happens because demand remains “very, very low.”