Seasonal slow demand has reportedly affected the US domestic wire rod market more than other long products, and as such spot prices are still vulnerable softening. However, considering current low levels of low carbon wire rod imports into the US, US wire rod buyers are somewhat of a “captured” customer, according to sources. As such, US wire rod mills have been able to keep spot prices relatively stable despite the low demand.
This week, US domestic wire rod spot prices are unchanged since our last report at $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) ex-mill.