Interest in US domestic wire rod remains weak, sources say, and while spot prices are still reportedly soft, there has not been a significant decline in prices week-on-week. US domestic wire rod mills are running at capacities “adequate to their needs,” sources say, mitigating the need to drop prices in order to fill order books. However, if US domestic scrap prices drop again next month as predicted, further adjustments wire rod prices might be apparent.
Until then, US domestic wire rod spot prices are steady this week in the range of $30.50-$31.50 cwt. ($672-$694/mt or $610-$630/nt) ex-mill.