US steel wire rod prices approach record high

Prices in the United States for domestic and imported carbon steel wire rod rose by $40 per ton in July, nearing an all-time high for domestic product and a record for imports.

Fastmarkets’ monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $55-57 per hundredweight ($1,100-1,140 per short ton) on Tuesday July 20, up by 3.70% from 53-55 per cwt on June 15. This marks the highest level since the price reached an all-time peak of $57.50 per cwt on July 24, 2008. Fastmarkets’ assessment for steel wire rod (low carbon) import, loaded truck Port of Houston for immediate delivery was $1,120-$1,200 per ton ($56-60 per cwt) on July 20, up by 2.65% from the previous all-time high of $1,080-1,180 per ton on June 15. Market overview Market participants noted that US producers - including Nucor Corp and Liberty Steel & Wire...

Published

Robert England

July 21, 2021

19:09 GMT

New York