5/11/2009
HEADLINES
Cold Heading Wire Rod Prices Continue Slide

Prices on cold heading quality wire rod have dropped $1.50 per hundredweight to $33.75 per cwt ($675 per ton) in the last month, American Metal Market reports.

Buyers said the market for cold heading wire rod has been hurting since August, with projections that prices will dip another $20 per ton in the coming weeks.

Automotive fastener manufacturers are reportedly slashing inventory to survive the auto industry crash in the U.S. And few hold out hope that the second half of 2009 will improve.