Ferrous scrap price declines, weak demand hit US wire rod market

Declining raw material costs, weakening demand from the automotive end market and competitively priced imported material have driven down prices for cold-heading quality (CHQ) and high-carbon wire rod in the United States.

Fastmarkets AMM's monthly pricing assessment for cold-heading quality wire rod dropped to $41.50 per hundredweight ($830 per short ton) North American delivered duty paid Great Lakes region on Friday June 21, down by 4.6% from $43.50 per cwt ($870 per ton) on May 17 and its lowest since late May 2018.  The pricing assessment for high-carbon wire rod slipped to $37.50 per cwt ($750 per ton)...

Published

Patrick Fitzgerald

June 24, 2019

23:07 GMT

New York