Sources tell SteelOrbis that US domestic wire rod spot prices have not changed week-on-week, as it seems US scrap prices could drop this month. Whatever portion of the mid-March $3.25 cwt. ($72/mt or $65/nt) price mills have obtained so far is “all it’s going to be,” sources say, and speculation that mills would announced another wire rod price increase this month to shore up the March increase is “now dead in the water.”
So far, demand seems to be decent enough to prevent US wire rod prices from slipping. As such, spot prices are stable week-on-week at around $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) ex-mill.