Little has changed within the US domestic wire rod market in the last week, with sources attributing the lull to the Labor Day holiday in the US earlier this week, which marks the unofficial end of summer. Activity is expected to pick up next week, although sources do not expect a change in prices. Despite pressure from lower scrap prices this month, import wire rod remains prohibitively high-priced, which is helping to maintain status-quo US wire rod prices.
For now, US domestic wire rod spot prices are still trending in the range of $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-mill.