Demand for wire rod in the US remains slow, mostly attributed to the summer season but some sources say the “extremely tepid” demand is unique to wire rod compared to other long products. However, after US shredded scrap prices trended sideways this month, US wire rod prices are expected to remain relatively stable, although deals are still possible considering US mills are primarily competing with themselves, not imports at the moment.
As such, US domestic wire rod spot prices are unchanged in the last two weeks, still trending at $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) ex-mill with some reported deals below that range.