Steel wire rod prices fall as scrap declines

Apr 29, 2013 | 04:39 PM | Samuel Frizell

Tags  steel, wire rod, prices, scrap, Interwire, automotive, construction, Samuel Frizell

NEW YORK — Steel wire rod prices have retreated in April on the back of lower scrap prices, with many market sources having reported signs of weakness in the wire market at the beginning of the year.

Though some wire producers reported improved business in the first four months of 2013, most said sales were flat over the same period a year ago, and mill sources said they haven’t seen the effects of a gradually improving economy on their order books this year.
“People haven’t seen the pickup there would normally be this time of the year. The weather’s holding everything back. We’re waiting for spring,” one rod mill source told AMM. “We’re down everywhere about $1 (per hundredweight).” ....





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