US wire rod price flat; sentiment weakening

Wire rod prices in the United States were stable after rising last month, but downward pressure has been mounting with Covid-19 pandemic-related uncertainty continuing to cast a pall over buying activity in the domestic market.

Fastmarkets’ monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $30-31 per hundredweight ($600-620 per short ton) on Tuesday June 16, unchanged from last month but down by 16.4% from $36-37 per cwt at this time last year.
Lead times currently range from two to four weeks, market participants said.
Fastmarkets’ monthly assessment for steel wire rod (low carbon) import, loaded truck Port of Houston for immediate delivery also was unchanged from last month, settling at $560-600 per ton on Tuesday. That price is down by 12.5% from $645-680 per ton one year ago.
US overview

Some sources indicated that stability has prevailed in the market for the time being, while others predicted...

Published

Patrick Fitzgerald

June 17, 2020

18:23 GMT

New York