Although most US domestic wire rod transactions still do not reflect the $2.00 cwt. ($44/mt or $40/nt) price increase announced by mills last month, sources tell SteelOrbis that wire rod prices have seemed to hit a floor, with fewer deals reported. One source said this was “probably what [mills] were intending all along.”
As such, US domestic wire rod prices remain at $28.50-$30.00 cwt. ($628-$661/mt or $570-$600/nt) ex-mill, although some outlier deals for preferred customers continue to persist at about $1.00 cwt. ($22/mt or $20/nt) lower.