3/23/2009
HEADLINES
Domestic Wire Rod Prices Steady – For Now

Prices for domestic wire rod are holding steady, despite weak demand and mill capacity outages, American Metal Market reports. But the growing consensus among buyers is that “rod prices could follow scrap down during April, May and June.”

U.S. f.o.b. mill prices on industrial-quality low-carbon rod is around $640 per ton, on par with February.

Foreign suppliers are generally quoting about 7% to 11% cheaper.

In general, buyers agreed that the good news for the industry is a lack of pushback from customers on current pricing.