With US shredded scrap prices looking to settle lower this month, sources tell SteelOrbis that US domestic wire rod mills are already more willing to negotiate deals. While the general price range is still steady week-on-week, it is expected to shift downward in the coming days.
For now, US domestic wire rod spot prices are in the range of $52.00-$53.00 cwt. ($1,146-$1,169/mt or $1,040-$1,060/nt) ex-mill, although sources say few if any quotes have been heard at the top end of the range.