Domestic steel wire
rod prices have held steady for the past two weeks, with mills
and buyers reporting tepid market conditions and a slowdown
during the July 4 holiday week.
price for mesh-quality low-carbon wire rod held at $640 per ton
($32 per hundredweight) f.o.b. mill, while industrial-quality
low-carbon rod is transacting at $650 per ton ($32.50 per cwt).
High-carbon wire rod is $700 per ton ($35 per cwt), and
cold-heading-quality material is $740 per ton ($37 per
Last month wire rod
prices dropped by around $10 per ton ($0.50 per cwt), roughly
in tandem with falling scrap prices (
amm.com, June 21).
"Scrap has been down,
so rod pricing has come down," said a Midwest wire rod
consumer, who said prices have stayed even for the past few
Wire rod buyers
selling into the construction markets saw a
slower-than-expected start to the year due to poor weather and
are now racing to catch up.
"June was strong,"
said a wire rod buyer in the South. "Were hoping to
recover everything we didnt get in the rainy spring and
wet winter, but were not quite getting back what we
automakers plans to stay open all summer or shorten
(amm.com, May 28), mills reported a slight summer
slowdown in orders, particularly due to the July 4 holiday.
"With July 4 falling
on a Thursday and Friday ruled out for any activity, things are
slow," said a mill source.
"Demand has softened a
little bit. Probably were kind of seeing a little bit of
a summer slowdown," said a wire rod buyer in the South.