US wire rod prices drop; scrap, demand weaken

Prices for industrial-quality, low-carbon wire rod tumbled in the United States for the eighth consecutive month after input costs fell and distributors avoided buying for stock.

Fastmarkets’ price assessment for steel wire rod (low carbon) industrial quality, fob mill US fell to $30-31 per hundredweight ($600-620 per short ton) on Tuesday September 17 from $31.50-32.50 per cwt on Tuesday August 20. That price had started the year at a midpoint above $40 per cwt. It lost ground in September, while the feedstock steel scrap shredded auto scrap, consumer buying price, delivered mill...

Published

Dom Yanchunas

September 18, 2019

23:09 GMT

New York