US domestic wire rod spot prices are down again week-on-week, although some sources say they’re surprised the price ticks downward are as modest as they are, considering how tepid demand continues to be. Further small downticks are expected in the future, especially since US shredded scrap prices are projected to drop again this month.
For now, US domestic wire rod offers are now in the range of $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) ex-mill, compared to $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) ex-mill last week.