Steel wire rod prices flat but demand lags

May 09, 2013 | 05:08 PM | Samuel Frizell

Tags  Steel wire rod, rod buyers, wire drawers, automotive, construction, scrap, May shipments, June shipments Samuel Frizell

NEW YORK — Activity in the steel wire rod market has failed to meet expectations in May, and both buyers and suppliers say they’ve seen little if any improvement in demand over the past few weeks.

"Nothing has changed," said one rod buyer. "Business is soft."

As a result, sources said they’ve seen no change in transaction prices in recent weeks. AMM’s mesh-quality low-carbon wire rod prices remain unchanged at around $670 per ton ($33.50 per cwt) f.o.b. mill; industrial-quality low-carbon rod is flat at $690 per ton ($34.50 per cwt); high-carbon wire rod is stable at $715 per ton ($35.75 per cwt); and cold-heading-quality material is steady at $770 per ton ($38.50 per cwt), sources said.....

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