Ferrous scrap price drop, demand slump hit US wire rod prices

Declining raw material costs and a slowdown in demand have caused spot prices to fall in the US cold-heading quality (CHQ) and high-carbon wire rod markets, sources have told Fastmarkets AMM.

Fastmarkets’ price assessment for cold-heading quality wire rod declined to $45 per hundredweight ($900 per short ton) North American delivered duty paid Great Lakes region on Monday April 22, while the high-carbon wire rod price moved down to $39.50 per cwt ($790 per ton) fob mill. CHQ follows scrap lower According to sources, spot prices for cold-heading quality wire rod decreased following the $25-per-gross-ton decline in the Chicago No1 busheling price during April’s ferrous scrap trade. One CHQ consumer said spot price erosion was the result of ferrous scrap costs falling this month, and noted that there were no...

Published

Patrick Fitzgerald

April 23, 2019

22:11 GMT

New York