Domestic wire rod mills lower October prices

Sep 19, 2012 | 04:40 PM | Michael Cowden

Tags  wire rod, scrap, price decrease, imports, China, steel, long products, Michael Cowden

CHICAGO — Domestic steel wire rod mills have lowered prices for October shipments in line with declines in scrap prices, according to market sources.

For grades based on shredded scrap, such as industrial-quality rod, prices are down $28 per ton ($1.40 per hundredweight), according to buyer sources.

AMM had not seen any official price decrease letters as of press time, but buyers said they had been contacted directly by mill representatives about the new prices.....

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