Slow demand and high inventory levels have resulted in a continually soft market for US domestic wire rod, and sources tell SteelOrbis that deal are available to buyers with attractive tonnage orders. Most US domestic wire rod spot prices are still in the range of $37.00-$38.00 cwt. ($740-$760/nt or $816-$838/mt) ex-mill, unchanged in the last week, although not many transactions are reportedly happening on the high end of the range.
Although one source speculated that US wire rod mills could possibly announce an overall price decrease to boost orders, most other sources contend that mills will likely cut deals on an individual basis going forward.