Although deals were newly available last week within the US domestic wire rod market, sources say this week that while a few outlier deals have been heard, the overall trend has shifted from downward to neutral. Demand remains steady, and predictions for US domestic scrap prices in March are pointing at an increase—US wire rod mills that were recently amenable to deals are no longer interested, sources say.
As such, US domestic wire rod prices are steady week-on-week in the range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) ex-mill.