US domestic wire rod prices maintain stability, for now

Thursday, 05 May 2022 20:49:29 (GMT+3)   |   San Diego
       

Spot prices within the US domestic wire rod market have not changed in the last week, but with US scrap prices poised to settle far below initial expectations this month, sources tell SteelOrbis that wire rod prices could see softening on the horizon.

Sources say wire rod customers have decent inventory levels and mill availability is increasing, which is also expected to put some downward pressure on spot prices, along with increasing interest in imports. For now, prices are in the range of $65.00-$67.00 cwt. ($1,422-$1,477/mt or $1,300-$1,340/nt) ex-mill, but the range could shift downward by next week.


Similar articles

Wire rod prices in Taiwanese domestic market - week 13, 2024

29 Mar | Longs and Billet

US domestic wire rod prices still soft

28 Mar | Longs and Billet

Wire rod consumption in Mexico increases 6.5 percent in January

28 Mar | Steel News

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

UAE-based ESA cuts wire rod prices for April despite better demand

28 Mar | Longs and Billet

Asian wire rod market tumbles amid pessimism in China

28 Mar | Longs and Billet

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