After a surprising mill price increase and its partial acceptance in the market, US domestic wire rod prices are stable week-on-week, although sources say that could soon change. A recent shift in US scrap sentiment, now pointing toward an upward trend next month, could allow wire rod mills to push for the remainder of the price increase. Already sources report mills have little appetite to cut deals, and without strong competition from the import market, they could keep prices high “through Q4 and beyond.”
For now, US domestic wire rod prices are unchanged in the range of $53.00-$55.00 cwt. ($1,168-$1,213/mt or $1,060-$1,100/nt) ex-mill.